Investing in Employment in the Middle East and North Africa Region

SANAD Entrepreneurship Academy

Press Releases

Amman, 2019-06-24

SANAD Technical Assistance Facility hosts financial inclusion forum for refugees

Cross-border workshop aims to expand access to financial services for refugees and migrants in Jordan, Lebanon, and Syria


Amman, 24 June 2019 – The Technical Assistance Facility of the SANAD Fund for MSME (SANAD TAF) held a two-day workshop from 19-20 June in Amman, Jordan, to advance financial inclusion for refugees and migrants. The “Partner Workshop on Cross-Border Collaboration for Financial Inclusion” brought together over 50 participants from Jordan, Lebanon, and Syria – including financial service providers, international and local non-governmental organizations, refugee and migrant entrepreneurs, and SANAD fund investors and technical assistance providers – to coordinate refugee-support efforts and expand access to financial services for refugees and migrants in the region.

SANAD hosts financial inclusion forum for refugees

Foreign-born residents, a significant proportion of which are refugees and migrants, make up one-third of the population in both Jordan and Lebanon. Increasing financial inclusion for this demographic can help foreign-born residents start businesses, build sustainable livelihoods, and spur economic growth in the communities shared with their hosts. At the workshop, participants shared their experiences with serving this target group: Panelists identified common challenges, exchanged realistic solutions, and explored the next steps for designing needs-driven interventions and leveraging successful programs across borders.

SANAD TAF Chairperson Ines Ebrecht said: “The SANAD Technical Assistance Facility has long been actively engaged with the topic refugee finance. We have been working with local partner institutions to develop both financial and nonfinancial services for refugees; supporting entrepreneur mentorship programs; and even piloting digital solutions to increase refugee access to finance. These experiences have shown us the value of collaboration across sectors and borders. With this workshop, we aimed to gather an array of key stakeholders at one table to learn how implemented and existing measures can inform future progress in refugee finance.”

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About SANAD
The SANAD Fund for MSME finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD strives to meet these goals by providing debt and equity financing to its local partners.

The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building with partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D.

An impact investment fund advised by Finance in Motion, SANAD’s investors include the KfW Development Bank, which initiated the fund; the German Federal Ministry for Economic Cooperation and Development (BMZ); the European Union; Switzerland’s State Secretariat for Economic Affairs (SECO); OeEB, the Development Bank of Austria; Germany’s GLS Bank and GLS Treuhand; the Dutch development bank FMO; and Calvert Impact Capital.

For more information on the SANAD Fund for MSME, please visit: www.sanad.lu
For more information on Finance in Motion, please visit: www.finance-in-motion.com


Media contact – SANAD
Nikki Eggers
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470
Email: press@sanad.lu

 
Initiated
|
Advised by
 
  • http://www.kfw-entwicklungsbank.de/
  • http://www.finance-in-motion.de/
 
 
Funded by
 
  • http://www.bmz.de/
  • http://ec.europa.eu/
  • http://www.kfw-entwicklungsbank.de/