Sanad Fund for MSME

MICROCAPITAL BRIEF: Gemeinschaftsbank für Leihen und Schenken (GLS) Invests $15m in Sanad Fund for MSME to Deploy in Middle East, North Africa

Gemeinschaftsbank für Leihen und Schenken (GLS), a German bank that focuses on investing in socially responsible and ecological projects, recently invested EUR 13 million (USD 14.5 million) in Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides debt and equity financing in the Middle East and North Africa. As of March 2016, Sanad has raised total investor commitments of USD 186 million. As of 2013, GLS had total assets of EUR 3.2 billion (USD 4 billion), deposits of EUR 2.8 billion (USD 3.5 billion), a loan portfolio of EUR 1.7 billion (USD 2.1 billion) and 165,000 customers.

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