SANAD, GGF back Beltone Leasing and Factoring with USD 20 mn: Beltone Leasing and Factoring secured USD 20 mn in funding from impact investment funds SANAD Fund for MSME and the Green for Growth Fund (GGF) — both managed by Germany-based impact asset manager Finance in Motion, according to a statement(pdf) from parent company Beltone Holding. Each fund provided a USD 10 mn package, with a repayment tenor of five years.

Where will the money go? The financing from SANAD — established by Germany’s KfW Development Bank — will go towards supporting “the financial inclusion for micro, small, and medium enterprises and low-income households across the Middle East and North Africa”, the release said. Meanwhile, the funding from GGF — a PPP between the European Investment Bank and KfW — will be earmarked for projects focused on renewable energy, energy efficiency, and sustainable resource management across MENA and nearby regions.

What they said: “Securing foreign currency funding from institutions like SANAD and GGF enhances our ability to diversify our capital base and offer more competitive financing solutions. This funding will enable us to strengthen our support for MSMEs while accelerating green projects that contribute to a more sustainable and resilient future,” Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance Amir Ghannam said.

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