The SANAD Fund for MSME (SANAD) and Amen Bank signed a USD 20 million loan agreement to support very small, small, and medium enterprises (VSE and SME) in Tunisia. The loan is projected to finance small and medium sized projects for up to seven years. Since June 2013, SANAD has made three investments for a total of USD 28.5 million to support entrepreneurship and job creation in Tunisia.
“With its extensive branch network, Amen Bank is an important new partner for SANAD to effectively reach out to very small, small, and medium enterprises all across Tunisia,” said Wolfgang Reuss, Chairman of SANAD’s Board of Directors. “Given the increasing importance of small and medium enterprises for the Tunisian economy, our partnership with SANAD will help increase Amen Bank’s capacity to finance this sector, and hence contribute to sustaining the creation of employment in Tunisia,” said Ahmed El Karm, President of the Executive Board of Amen Bank.