The SANAD Fund for MSME

The SANAD Fund for MSME funds micro, small, and medium enterprises (MSMEs) in the Middle East and North Africa (MENA) region. The SANAD Fund is shaped by four imperatives: maintain and create employment opportunities, especially for the youths (primarily by supporting 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) and increase access to financing for housing, promote agriculture and financial innovation.

InceptionAugust 2011
Fund StructureSpecialized Investment Fund, SICAV-SIF, under Luxembourg law involving different share classes 
Available FundingUSD 288.7 million 
Portfolio Outstanding USD 250.5 million 
Initiator KfW Development Bank
Target Region Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territory, Tunisia, and Yemen 
End-BorrowerMicro, small and medium enterprises (MSMEs) 
Target Financial Institutions Microfinance institutions, commercial banks, leasing and factoring companies, financial service providers, and other financial intermediaries 
Financial Instruments Medium- and long-term senior loans, guarantees, standby facilities, and equity participations 

Status: 30 September 2018

Finance in Motion has been mandated as an advisor to provide the following services:

  • Investment Advisory
  • Risk Management
  • General Fund Advisory
  • Technical Assistance Management

The SANAD Fund contributes to achieving the following Sustainable Development Goals by financing micro-, small and medium enterprises and housing via financial intermediaries, including equity investments, into financial sector enterprises.

For more information on the Sustainable Development Goals (SDGs), please visit the official United Nations SDG knowledge platform.

The SANAD Fund was initiated in August 2011 by KfW Development Bank, along with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission.

For further information about the SANAD Fund for MSME, please visit

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