The SANAD Fund for MSME (SANAD) and Enda inter-arabe (Enda) signed a USD 5 million local currency loan agreement to increase outreach into underserved areas and particularly microentrepreneurs in Tunisia. The funding from SANAD will enable Enda to continue providing tailor-made financing solutions such as loans for microentrepreneurial purposes, household income-generating, or agricultural activities in the country. The loan is projected to fund approximately 18,000 sub-loans over the next five years.
“With its strong market position and convincing performance both financially and socially, Enda inter-arabe remains an important partner for SANAD in Tunisia. SANAD is committed to supporting Enda’s plans to further expand into rural areas and extend on-lending to very small enterprises,” said Wolfgang Reuss, Chairman of SANAD’s Board of Directors. “This second loan from SANAD is crucial to help Enda respond to the growing needs of micro-entrepreneurs all over Tunisia. This is all the more important at a time the local banks have been facing a serious liquidity crisis since the Revolution in 2011 and Enda has been calling increasingly on the international market to mobilize some 50 million dinars from foreign lenders," said Enda’s CEO, Essma Ben Hamida.