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TunisiaEU-funded SANAD provides €10 million senior loan to Tunisie Leasing & Factoring
The EU-funded SANAD Fund for MSME (SANAD) and Tunisie Leasing and Factoring (TLF) have once again joined forces to expand access to financing for a crucial segment of the Tunisian economy: micro, small, and medium enterprises (MSMEs). A SANAD loan facility of €10 million will be used to support TLF in continuing to provide financing services to MSMEs as well as to expand its outreach to the agriculture sector.
TLF is the leading leasing institution in Tunisia, extending financial services to small businesses all over the country. With MSMEs as its core client segment, TLF is optimally positioned to help SANAD pursue its mission of channeling resources to entrepreneurs in the Middle East and North Africa to promote financial inclusion and job creation. In addition to MSMEs, this third SANAD investment in TLF will be partly dedicated to agricultural financing.
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.
Read more
SANAD Fund – website
Countries covered:
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Tunisia
