The SANAD Fund for MSME has been initiated in August 2011 by KfW Entwicklungsbank (The German Development Bank) with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. The Fund provides debt and equity financing to partner institutions (PIs) in the Middle East and North Africa (MENA) region that serve micro, small and medium enterprises (MSMEs). These PIs are not only banks and microfinance institutions, but also other financial intermediaries such as financial service providers, guarantee funds or venture capital funds. Targeted investors in the SANAD Fund for MSME are both public and private entities.
SANAD at a glance
Corporate Information
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Public-Private Partnership involving donor agencies, international finance institutions and private institutional investors
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Domicile
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Luxembourg |
Inception
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August 2011 |
Fund Structure
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Specialized Investment Fund, SICAV-SIF, involving different share classes |
Initiator
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KfW Entwicklungsbank (The German Development Bank)
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Donors & Investors
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German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission |
Fund Managers
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Finance in Motion GmbH, Oppenheim Asset Management Services S.à r.l. |
Mission
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SANAD’s mission to fund micro, small and medium enterprises (MSMEs) in the Middle East and North Africa (MENA) region is shaped by three imperatives:
- Maintain and create employment, especially for the youth – primarily through support to small and medium enterprises
- Reduce poverty – by facilitating self-employment, primarily through microfinance
- Build inclusive financial systems – by cooperating with banks, microfinance institutions and other institutions to facilitate access to financial services.
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Target Region
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The SANAD Fund for MSME's eligible countries are currently:
- Algeria
- Egypt
- Iraq
- Jordan
- Lebanon
- Morocco
- Palestinian Territory
- Tunisia
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End-Beneficiaries
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Micro, small and medium enterprises (MSMEs) |
Target Financial Institutions
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MFIs, commercial banks, leasing and factoring companies, rinancial service providers, local investment funds, local guarantee funds, other financial intermediaries |
Financial Instruments
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Medium and long term debt, Guarantees, Standby facilities, Equity participations, Participation in bond issues and securitization of MSME loan portfolios |
Non-Financial Services
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Through the SANAD Technical Assistance Facility: Technical assistance for capacity building of partner institutions to increase outreach to final target group |
Status: 31 December 2012
For further information about the SANAD Fund for MSME, please visit www.sanad.lu
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Finance in Motion has been mandated to provide the following services:
- Investment Management
- Risk Management
- General Fund Management
- Technical Assistance Services
| FUNDING |
| Committed Funds from Investors |
USD 60.7 million |
| Status: 31 December 2012 |
| PORTFOLIO INVESTED IN PARTNER INSTITUTIONS |
| Investment Portfolio Outstanding |
USD 18.8 million |
| Active Partner Lending Institutions |
5 |
| Amount of Approved Investment to Partner Institutions since inception in Aug. 2011 |
USD 32.6 million |
| Status: 31 December 2012 |
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