In October 2015, OeEB invested EUR 10 million in SANAD Fund for MSME. The funds will help strengthen micro, small and medium-sized enterprises (MSME) in North Africa and the Middle East (MENA). In November 2016, OeEB increased its investment by another EUR 15 million.
|Project name||SANAD Fund for MSME|
|Region||MENA (Middle East and Northern Africa)|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||EUR 25 million|
|Projekt partner(s)||SANAD Fund for MSME S.A., SICAV-SIF|
OeEB's funds will be invested in SANAD's debt sub-fund to strengthen the fund's capital base and thus facilitate loans to local MSMEs. This helps strengthen the region's private sector and contributes to securing and creating jobs.
SANAD Technical Assistance Facility
Since 2016, OeEB provides Business Advisory Services funds for the SANAD Technical Assistance Facility. This facility finances measures to enhance the development impact of SANAD's investments, such as trainings for local microfinance partners or support in developing new financial services. OeEB's funds are dedicated to projects in Lebanon and Jordan, two countries which were particularly affected by the refugee crisis.
SANAD Fund for MSME was initiated and funded by the German Development Bank KfW in 2011, with financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union. The fund provides medium- and long-term debt and equity financing to financial institutions in the Middle East and North Africa and thus helps strengthen the MSME-sector and financial market in the region.