SANAD and Amen Bank commit EUR 14 million to support Tunisian small businesses in overcoming COVID-19 crisis


Luxembourg and Tunis, April 12, 2021 – The SANAD Fund for MSME (SANAD) has provided a senior loan of EUR 14 million to longstanding partner Amen Bank for on-lending to Tunisian micro, small, and medium enterprises (MSMEs). The investment aims to provide much-needed liquidity to help this key economic segment withstand the economic headwinds brought on by the COVID-19 crisis.

Amen Bank is the second-largest private bank in Tunisia and one of the main providers of financial services to the country’s MSMEs. Its commitment to this client segment and widespread branch network makes the bank an optimal conduit for SANAD to pursue its mission of channeling tailored financing to local entrepreneurs – a mission thrown into high relief in a time when business loans are crucial for helping MSMEs cope with the liquidity bottlenecks caused by the pandemic. A strategic SANAD partner since 2014, Amen Bank will use the new funding to extend valuable medium to long-term financing to local businesses. 

SANAD Board Chairperson Dr. Daniela Beckmann said, “From the moment the pandemic hit, Amen Bank pivoted quickly to maintain contact with its clients through digital means and created new financial products specifically tailored to meet the needs of crisis-affected MSMEs. Entrepreneurs are an integral driver of economic stability and business development in Tunisia; supporting them means supporting the whole economy. And the high commitment to MSMEs shown by Amen Bank makes us glad to be once again strengthening our partnership to stand by entrepreneurs in these challenging times.”

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 Amen Bank

Amen Bank is the first fully private and Tunisian bank. Totally dedicated to the service of its customers and to the development of the national economy, Amen Bank sets itself 3 essential objectives: to serve, to innovate and to enable its clients’ success. Amen Bank operates throughout Tunisia thanks to its rich network of 160 branches (spread over 14 regional offices), endowed with efficient and dynamic human resources and state-of-the-art IT tools; its clientele is made up of businesses as well as individuals.

In the Tunisian banking landscape, Amen Bank stands out for its long history, which dates back more than a century. Amen Bank is a universal bank, located at the heart of a diversified group with strong synergy, which enjoys strong growth, allowing it to ensure its stability and sustainability. Its share capital, currently amounting to TND 132,405,000, is 61.38% owned by Amen Group.

For more information, please visit: 

Media contact – SANAD

Nikki Eggers
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470 

Media contact – Amen Bank

Mme Mahjoubi Meriem
Communications and Marketing
Phone: +71 148 288-54 617 968