SANAD extended a USD15mln loan to NBE to foster MSMEs

The SANAD Fund for MSME (SANAD) has provided a senior loan of USD 15 million to longstanding partner the National Bank of Egypt (NBE) to support financial inclusion for underserved micro, small, and medium enterprises (MSMEs) and small farmers.

NBE is the country’s leading lender and a key player in MSME and agriculture financing. The bank’s broad branch network across the country allows it to lend agricultural businesses and enterprises in remote and rural areas – clients who may otherwise have difficulty accessing financial services.

SANAD Board Chairperson Dr. Daniela Beckmann said, “With this investment, we aim to continue our partnership with the National Bank of Egypt in enabling small business owners and farmers to have access to the resources they need to thrive. The ability of this segment to grow and provide jobs is crucial for economic well-being and prosperity across the country.”

NBE Chairman Hisham Okasha reiterated Dr. Beckmann’s words, praising the reliable partnership between SANAD and NBE. He added, “We are pleased to be taking this next step together to support hardworking business owners in rural areas and in agriculture, an important sector for Egypt.”