After the approval of the European Investment Bank (EIB)’s Board in July, today, the EIB and the European Commission have announced at the UN General Assembly in New York the signature of a €400 million financing facility with the Palestine Monetary Authority (PMA) to support the economic recovery and resilience of the Palestinian private sector. The operation is structured as an intermediated facility through PMA and local financial institutions and is intended to improve access to finance for micro, small and medium-sized enterprises and Mid-Caps, which form the backbone of the Palestinian economy.