Investing in Employment in the Middle East and North Africa Region

Press Releases

Luxembourg and Ramallah, 2013-02-12

SANAD makes first investment in Palestinian Territories with USD 2 million loan to FATEN

Luxembourg and Ramallah, 12 February 2013 - The SANAD Fund for MSME (SANAD) has signed a senior loan facility of USD 2 million with Palestine for Credit & Development – FATEN (FATEN), a microfinance institution (MFI) operating in West Bank and Gaza. This is SANAD’s first loan agreement in the Palestinian Territories.

SANAD is pleased to partner with FATEN, which is recognized as a leader in the provision of sustainable financial services to MSMEs across the Palestinian Territories, including Gaza. Through FATEN, over 1,000 MSMEs are expected to benefit from SANAD’s credit facility across the Palestinian Territories. In addition, the loan will help FATEN to diversify refinancing sources from commercial lenders, which is key to its future growth plans.

SANAD’s Board Chairman, Wolfgang Reuss, said: “FATEN combines an excellent track record with a clear vision for future growth. SANAD is proud to join forces with the market leader in the Palestinian Territories in terms of portfolio, branch network, efficiency and profitability, and to work with FATEN in strengthening and broadening the much-needed development finance in the Palestinian Territories.”

FATEN’s Managing Director, Anwar Jayosi, said: “FATEN is pleased to strengthen its relationship with SANAD through this loan agreement. This will positively add to our wide range of commercial fund providers, with which we are happy to have a strong relationship. FATEN is thus able to provide a wide range of high quality and sustainable financial services, for low income and economically active small scale enterprises, micro entrepreneurs and individuals, especially women. This way, FATEN also contributes to family empowerment and community development in Palestine.”
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About Sanad

Initiated by KfW (the German Development Bank) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union in August 2011, SANAD provides medium and long-term debt, guarantees and equity financing to commercial banks, microfinance institutions, and other financial institutions across the MENA region. The purpose of SANAD is to strengthen the local micro, small and medium enterprise sector and financial markets in line with the principles of responsible finance. Eligible countries are currently Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territories, and Tunisia. Activities of the fund are supported by a Technical Assistance Facility providing capacity-building support to partner institution. SANAD is a public-private partnership with target investors comprising of donor agencies, international financial institutions and institutional private investors, and current investors including the European Commission, the German Federal Ministry for Economic Cooperation and Development (BMZ). SANAD is privately managed by a consortium of Finance in Motion GmbH, Frankfurt/Main, and Oppenheim Asset Management Services S.à r.l., Luxembourg.



FATEN was initially founded as a program by the international Save the Children Federation in 1995 and registered as an independent non-profit, limited liability company in 1998. FATEN’s mission is to provide Palestinian micro-entrepreneurs sustainable access to financial services, focusing on enterprises led by women, which make up close to 80% of its client base. FATEN has a gross loan portfolio of approximately USD 32 million, more than 17,000 customers and 18 branches across the West Bank and Gaza. To best serve its clients, FATEN offers a wide range of products, including personal, business, and housing loans, as well as shariah-compliant financing. Notwithstanding the challenging circumstances FATEN operates in, it has become a role model internationally by winning renowned awards for its outstanding performance at the institutional, staff and borrower level. FATEN is a member of the Sanabel Microfinance Network of Arab Countries.


Media Contact SANAD


Media contact FATEN

Merle Römer
Phone: +49 (0)69/977 876 50-171
Hind Jarrar
Phone: +97022961470/1/3


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