Project detail - CITIBANK EUROPE, LUXEMBOURG BRANCH

CITIBANK EUROPE, LUXEMBOURG BRANCH

Status: Completed investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

The SANAD Fund for MSME views the micro, small and medium enterprise sector as an engine of economic development, job creation and prosperity in the Middle East and North Africa (MENA). SANAD provides debt and equity financing to local partner institutions for on-lending to micro, small and medium enterprises (MSMEs) and fuelling their growth. To maximize both the Fund’s impact and its returns, SANAD also provides hands-on support to partner institutions via its Technical Assistance Facility.

What is our funding objective?

To support SANAD’s partner institutions through the Technical Assistance Facility with hands-on support to optimize product offerings, access new customer segments, adopt alternative lending technologies, and develop new initiatives

Why do we fund this investment?

The MENA region has undergone fundamental changes since early 2011. Public uprisings have changed the political landscape and highlighted the need for economic development and the creation of employment, especially among the youth. By targeting MSMEs in a fragile region of the world, the SANAD Fund and Technical Assistance Facility are directly supporting the Base of the Pyramid, promoting financial inclusion, stimulating job creation, and encouraging economic growth.

Country
Global
Sector
Financial Institutions
Effective date
7/31/2017
End date
10/8/2020
Total FMO financing
EUR 0.20 MLN
Funding
MASSIF