Bank of Palestine and the European Bank for Reconstruction and Development support small and medium-sized enterprises through a financing package worth $30 million
The Bank of Palestine and the European Bank for Reconstruction and Development ( EBRD ) announced a new partnership to support Palestinian small, medium and micro enterprises, through a financing package worth US$30 million, provided by the European Bank for Reconstruction and Development to enhance the ability of small enterprises to expand and develop. We worked with the Bank of Palestine to finance this package, as it is the largest and most widely spread bank in Palestine, and it has been a client of the European Bank for Reconstruction and Development since 2020.
According to the partnership between the two sides, the financing package will be used to lend to micro, small and medium enterprises from qualified projects in the private sector, in a way that meets their liquidity needs and enables them to maintain the continuity of their operations, in addition to enabling them to contribute to supporting the steadfastness of the local private sector. This financing comes as a result of the successful experience of the European Bank for Reconstruction and Development when it provided the Bank of Palestine in December 2020 with a loan for small and medium enterprises worth 13 million US dollars, and a loan for businesswomen worth 2 million US dollars.