SANAD and Bank al Etihad join forces to empower MSMEs in Jordan


Through its first USD 20 million subordinated loan financing for the bank, the fund strengthens the bank’s capital base enabling further growth in MSME finance in the country

Luxembourg and Amman, 11 April 2023 – The SANAD Fund for MSME (SANAD) has provided a subordinated loan of USD 20 million to a new fund partner, Bank Al Etihad, to support the bank in expanding its financing to micro, small and medium enterprises (MSMEs) in Jordan. 

As a leading bank in Jordan with a strong offering targeted to MSME clients, Bank al Etihad is an ideal partner for SANAD. Incorporated in 1978, the bank is also highly regarded as an innovative bank with visible achievements in digitalization and the bank of choice for women entrepreneurs and borrowers. Furthermore, the bank is highly engaged in international networks and alignment with frameworks such as UN Global Compact, Financial Alliance for Women, UN Women Empowerment Principles, and its public commitment to SDGs.

The facility is expected to advance SANAD’s overall impact mission of fostering economic development and promoting business growth - contributing towards achieving SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure). The loan is a subordinated instrument aligned with Basel III requirements, contributing to improving the bank’s capitalization. The financing will also be supplemented with technical assistance, to enhance the bank's ESG Risk Management capacity when it comes to MSME finance through relevant trainings. The additional capacity building is envisioned to support the bank in strengthening its existing product offerings for women entrepreneurs.

SANAD Board Chairperson Dr. Daniela Beckmann said, “We are very happy to announce our new partnership with Bank al Etihad, a leading bank focused on MSMEs and women entrepreneurs. This partnership further highlights the role SANAD plays in the region as a reliable impact investor providing the necessary funding and capacity building to its partners. By doing so, SANAD once again demonstrates its commitment to the MSMEs in the region and particularly female clients, which play a critical role in driving economic growth and creating positive social impact. We are confident that together we will make a real difference for business owners and communities in the region.”

The CEO of Bank al Etihad, HE Nadia Alsaeed said: “We’re excited to partner with SANAD to further support the SME sector in Jordan. This USD 20 million subordinated loan financing will allow us to expand our financing options to small and medium enterprises in the country, and contribute to the achievement of the SDGs. We look forward to working with SANAD to make a difference for business owners and communities in Jordan.”

About SANAD 
The SANAD Fund for MSME finances micro, small, and medium enterprises and low-income households in the Middle East and North Africa and selected countries in sub-Saharan Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD strives to meet these goals by providing debt and equity financing to its local partners. The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building with partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D. 
An impact investment fund advised by Finance in Motion, SANAD’s investors include the KfW Development Bank, which initiated the fund; the German Federal Ministry for Economic Cooperation and Development (BMZ); the European Union; Switzerland’s State Secretariat for Economic Affairs (SECO); OeEB, the Development Bank of Austria; Germany’s GLS Bank and GLS Treuhand; the Dutch development bank FMO; and Calvert Impact Capital. 

For more information on the SANAD Fund for MSME, please visit:  
For more information on Finance in Motion, please visit:  

About Bank al Etihad
Bank al Etihad is a Jordanian banking and financial institution that has been operating for 41 years. We are proud that human and family values are at the heart of our culture and we put the satisfaction of our customers - individuals, entrepreneurs, companies and women - at the forefront of our priorities. 

The bank strives to be the leading digital bank in Jordan, so it prioritizes technology, entrepreneurship, and innovation as the key principles of our path toward growth. The bank believes that empowering its community can only be achieved by investing in digital transformation. Through this, clients can access products and services and control their money wherever they are and at any time.  

Bank al Etihad offers a growing network of branches and ATMs that are spread across the Kingdom. The bank also owns a central exchange unit, a financial brokerage company (Al-Etihad Brokerage), and a financial leasing company (Al-Etihad Financial Leasing). It is a member and a strategic partner of the Board of Directors of the National Bank in Palestine. It also owns 36% of the shares in Safwa Islamic Bank.

For more information, please visit:

Media contact – SANAD
Anne Johnson 
Senior Officer, Marketing & Communications 
Phone: +49 (0)69 271 035-742 

Media contact – Bank al Etihad
Angel Dahdal
Senior Manager -  Public Relations
Phone: +962 6 5607011 Ext.: 2213