SANAD Fund’s Egypt financing portfolio hit $160 mln in 2018

SANAD Fund for MSMEs, part of the German state-run Kfw Development Bank, said on Tuesday Egypt captures a great share in its financing for the Middle East region.

The amount of loans offered to Egyptian banks and non-banking institutions reached $160 million approximately in 2018, said SANAD Fund’s regional head Mohamed Morsy during the Non-Banking Financial Instruments Conference held in Cairo.

SANAD’s loans in the Middle East region stood at $800 million last year, Morsy added.

The Fund was initiated by KfW Development Bank as a public-private partnership model.

It is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), the EU, the KfW, Switzerland´s State Secretariat for Economic Affairs (SECO), the Development Bank of Austria (OeEB), the German GLS Bank, and the Dutch Development Bank (FMO).