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TunisiaSANAD and National Bank of Egypt continue partnership to expand financing to entrepreneurs
The EU-funded SANAD Fund for MSME (SANAD) has provided a senior loan of USD 15 million to longstanding partner, the National Bank of Egypt (NBE), to support financial inclusion for underserved micro, small, and medium enterprises (MSMEs) and small farmers.
NBE is the country’s leading lender and a key player in MSME and agriculture financing. The bank’s broad branch network across the country allows it to on-lend SANAD funding to MSMEs, including agricultural businesses and enterprises in remote and rural areas – clients who may otherwise have difficulty accessing financial services.
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.
Read more
SANAD Fund – website
Countries covered:
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Egypt
