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 three 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); and build inclusive financial systems (by cooperating with banks, microfinance institutions and other institutions to facilitate access to financial services).


August 2011

Fund Structure

Specialized Investment Fund, SICAV-SIF, under Luxembourg law involving different share classes 

Committed Capital 

USD 188.2 million 

Portfolio Outstanding 

USD 167.6 million 


KfW Development Bank

Target Region 

Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territory, Tunisia, and Yemen 


Micro, 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 2016

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 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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