The SANAD Fund for MSME (SANAD) has announced a USD 10 million senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small and medium enterprises (MSMEs).

The sixth largest bank in Egypt, Banque du Caire is a strong contributor to the national economy across all sectors. Its special focus on microfinance, combined with a broad network of over 230 branches spread across the country, puts it in a unique position to further the SANAD fund’s goals of economic development and job creation in the Middle East and North Africa. With the SANAD loan, Banque du Caire aims to pursue ambitious targets for developing and expanding its leading position in the MSME sector, increasing SANAD’s outreach to Egyptian MSMEs and fostering job creation in the country.

SANAD Board Chairperson Dr. Daniela Beckmann said, “We are thrilled to be joining forces with Banque du Caire in its efforts to provide financing to the still-underserved ‘missing middle’ in the Egyptian economy. MSME development is essential to economic prosperity, and the bank’s focus on this segment resonates soundly with the SANAD fund’s mission to support business growth in the region.”

The SANAD Fund was established in 2011 to foster economic development and create jobs, particularly for youth, in the Middle East and North Africa by providing debt and equity funding to local financial institutions that lend money to support MSMEs and housing development. The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building at partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D.

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SANAD Fund