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Lebanon secures $20m loan to boost SMEs lending
- Lebanon: Thursday, February 07 - 2013 at 07:03
Lebanese lender Bank Audi has signed an agreement with SANAD, a German fund for small and medium enterprises in the Mena region, for a $20m loan facility aimed at expanding lending to small businesses in Lebanon, The Daily Star has reported. "Supporting SMEs is crucial in Lebanon, where a vibrant private sector remains critical to future economic growth and greater employment opportunities," said Wolfgang Reuss, chairman of SANAD. SANAD and Bank Audi will be considering expanding the partnership in other countries in the region, the two parties said. The fund currently operates in Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Palestine and Tunisia.
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