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TunisiaEU-funded SANAD helps Tunisian entrepreneurs tackle COVID-19 crisis
The SANAD Fund for MSME (SANAD) and Centre Financier aux Entrepreneurs (CFE) have once again partnered to channel crucial liquidity to Tunisia’s micro and very small enterprise segment. With a fresh senior loan of €600,000, the fund aims to strengthen CFE’s ability to provide emergency liquidity to entrepreneurs whose business operations have been hampered by the COVID-19 crisis.
Since its establishment as a greenfield microfinance institution in 2015, CFE has grown to become a major provider of microfinance in Tunisia. The new loan will enhance CFE’s liquidity position and boost its efforts to ensure clients’ access to financing tailored to help them withstand the difficulties of the ongoing crisis.
Established in 2011, the SANAD Fund for MSMEs finances micro, small and medium enterprises and low-income households in the Middle East and North 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’s investors include the KfW Development Bank and the European Union.
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SANAD Fund – website
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