The proposed operation consists of an equity and/or quasi-equity participation of up to the USD equivalent of EUR 10m in a retail and commercial bank in Palestine, with the objective of financing its expansion plan including inter alia addressing the SME market gap.
Objectives
To invest in Quds Bank in the context of its expansion plan, which includes doubling the number of branches, launching new products (e.g. launching of credit cards services, selling bank insurance products within its branches) and launching a division specifically intended to service the SME market.
Comments
Sector(s)
Services
Proposed EIB finance (Approximate amount)
EUR 10 million
Total cost (Approximate amount)
EUR 25 million
Environmental aspects
The Bank is committed to comply with EIB's Environmental and Social standards.
Procurement
N.A
Status
Under appraisal
-
07/01/2013.
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