Investing in Employment in the Middle East and North Africa Region

Institutional Structure

The SANAD Fund for MSME is a Luxembourg-based variable capital investment company (SICAV-SIF), initiated and funded by KfW Development Bank with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Union and Switzerland's State Secretariat for Economic Affairs (SECO), the Oesterreichische Entwicklungsbank AG (OeEB), Germany's GLS Bank and the Dutch Development Bank FMO.



The Board of Directors oversees the Fund’s investment activities and defines its strategic positioning as well as overall approach. It also oversees the service providers, in particular the Advisor, active for the Fund at the operational level. 
The Investment Committees for the Debt Sub-Fund and the Equity Sub-Fund, appointed by the Board of Directors, oversee the activities of the Advisor and are responsible for approving all SANAD investment decisions. The Investment Committees ensure that SANAD invests in partner institutions that comply with the Fund’s Investment Guidelines and Issue Document, and that investments are aligned with the strategic vision laid out by the Board of Directors. The Technical Assistance Facility Committee, comprised of representatives of the  Technical Assistance Facility’s donors, oversees the Facility’s activities and must ultimately approve all technical assistance projects. In addition to ensuring transparency, this lean institutional structure also has the flexibility to react quickly and effectively to market changes. 
 
Initiated by
 
http://www.kfw-entwicklungsbank.de/
 
 
Funded by
 
  • http://www.bmz.de/
  • http://ec.europa.eu/
  • http://www.kfw-entwicklungsbank.de/
 
 
Advised by
 
  • http://www.finance-in-motion.de/