Creating new perspectives in vulnerable region
OeEB provides EUR 15 million for "SANAD Fund for MSME". Via microloans the fund supports micro, small and medium-sized enterprises and this way helps create jobs in the Middle East and North Africa. Already in 2015, OeEB invested EUR 10 million in the fund.
"A job which provides a stable income is the key to escape poverty," emphasize Andrea Hagmann and Michael Wancata, members of OeEB's executive board. "And jobs are especially needed in this region marked by the Arab Spring and Syria conflict."
In addition to its EUR 15 million investment, OeEB provides Advisory Programmes funds for measures which enhance the developmental impact: Microfinance partners receive trainings and support in developing new financial services in order to enable sustainable economic development.