With its investment of EUR 10 million in SANAD Fund for MSME, OeEB helps strengthen micro, small and medium-sized enterprises (MSME) in North Africa and the Middle East (MENA).
SANAD Fund for MSME was founded in 2011. It provides medium- and long-term debt to financial institutions in the MENA region and thus helps strengthen the region's MSME-sector and financial market.
"The investment in SANAD underscores OeEB's development objectives and expresses our continued commitment to foster economic growth in the MENA region. MSMEs form the backbone of the region’s economies and, therefore, providing access to much-needed credit will help create jobs," said Andrea Hagmann, member of OeEB's executive board.
For more information read the full Press Release