The SANAD Fund for MSME (SANAD) today announced an additional USD 10 million senior loan to ALEXBANK to support the lender’s ongoing expansion of financing for Egyptian micro, small and medium-sized enterprises (MSMEs).
The Egyptian lender operates a specialized SME department along with decentralized SME business centers throughout the country to increase outreach and access to finance. It is also one of the few banks in the country that is heavily engaged in microfinance services.
Wolfgang Reuss, Chairman of SANAD’s Board of Directors, said: “This latest investment in ALEXBANK demonstrates the success of our ongoing partnership, one that continues to support MSMEs in Egypt.”
For more on this story visit the following link: SANAD Lends Additional USD 10 mln to Egypt’s ALEXBANK