FMO invests in SANAD Debt Sub-Fund for MSME
FMO has invested $25 million in the SANAD Debt Sub-Fund for MSME to support small businesses in the Middle East and North Africa.
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Dutch development finance institution FMO has invested $25 million in the SANAD Debt Sub-Fund for MSME to support small businesses in the Middle East and North Africa (MENA) region.
‘Sanad’ means ‘support’ in Arabic. The fund seeks to promote stability in a challenging region by expanding financial inclusion for micro-, small- and medium-sized enterprises (MSMEs) that often have difficulties finding access to capital for starting or growing a business.
SANAD’s loans to local financial institutions are on-lent to support MSMEs in multiple sectors.
The fund will expand its product offering to include direct lending to agribusinesses.
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