The SANAD Fund for MSME (micro, small and medium enterprises) has provided a senior loan of USD 10 million to Investbank to support the bank’s efforts in providing housing loans to low-income individuals as well as expanding its lending operations to small and medium enterprises (SMEs) in Jordan.
Investbank is one of the leading banks in Jordan in providing pioneering financial solutions. The bank plans to expand its existing housing product offering and its SME lending portfolio by offering financing both directly by the bank as well as through its subsidiaries. The proposed investment will also complement the two loans that SANAD has provided in 2018 to two of the bank’s subsidiaries, namely Jordan Trade Facilities and Al IMDAD for Supply Chain Financing, which also aim to advance their SME lending operations.
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.
SANAD Fund – website