News

SARADAR BANK SAL ACQUIRES 49% PERCENT STAKE IN VITAS SAL

Saradar Bank SAL announced the acquisition of a 49% percent stake in Vitas SAL (“Vitas” or the “Company”), a subsidiary of Vitas Group. Saradar Family Office SAL (“SFO”) acted as sole buy-side financial advisor to Saradar Bank. Based in Lebanon, Vitas is engaged in the provision of microfinance solutions to entrepreneurs and individuals with limited income. This transaction is in line with Saradar Bank’s social responsibility strategy to give back to its community through facilitating access to education, healthcare, information and culture.

GLOBAL COMMUNITIES, CALVERT IMPACT CAPITAL SIGN $5 MILLION LOAN AGREEMENT TO EXPAND LENDING IN THE MIDDLE EAST

Global Communities recently closed a new loan agreement for $5 million with Calvert Impact Capital. The funds will be used for on-lending to Vitas Palestine to support housing lending in both Gaza and the West Bank over three years.
Global Communities and Calvert Impact Capital have collaborated since 2007, when they signed a $1 million loan agreement that helped Global Communities grow its lending portfolio from $120 million to $260 million.