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Yemen EU’s SANAD Fund partners with The National Bank to support micro, small and medium enterprises and low-income households
December 20, 2018
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The SANAD Fund for Micro, Small and Medium Entreprises (SANAD Fund for MSME) has granted a senior loan of USD 5 million to The National Bank (TNB), marking the fund’s first banking sector investment in the Palestinian Territories.
The main goal of the loan is to support TNB’s lending to micro, small and medium enterprises (MSMEs) as well as to low-income households for home improvement and purchase.
Established in 2011, SANAD fosters economic development and job creation, agriculture, affordable housing, and innovations in finance and financial technologies. SANAD’s investors include the European Union.
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