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TunisiaSANAD supports Tunisian small businesses in overcoming COVID-19 crisis
The SANAD Fund for MSME (SANAD) has provided a senior loan of € 14 million to longstanding partner Amen Bank for on-lending to Tunisian micro, small, and medium enterprises (MSMEs). The investment aims to provide much-needed liquidity to help this key economic segment withstand the economic headwinds brought on by the COVID-19 crisis.
Amen Bank is the second-largest private bank in Tunisia and one of the main providers of financial services to the country’s MSMEs.
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.
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SANAD Fund – website
Countries covered:
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Tunisia
