SANAD and AL TAS-HEELAT Partner to Expand Financial Support for Small Businesses in Jordan

17 Oct 2018

The SANAD Fund for MSME (SANAD) announced today that it has provided a local currency loan in the equivalent of $4 million to Jordan Trade Facilities (Al TAS-HEELAT), a non-bank financial institution targeting very small and small enterprises. The new partnership aims to increase access to sustainable financing for this essential segment of the Jordanian economy.

In a country where micro, small, and medium-sized enterprises account for the vast majority of local employment, Al TAS-HEELAT is one of the few non-bank financial institutions offering products customized for the requirements of this significant group. By providing the facility in Jordanian dinar, SANAD has also ensured that Al TAS-HEELAT can on-lend the funds in local currency, thereby protecting vulnerable small businesses from the risk of exchange rate fluctuations.

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