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TunisiaSANAD and Bank al Etihad join forces to empower MSMEs in Jordan
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.
Countries covered:
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Jordan
