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    Signature(s)

    Amount
    € 755,572.35
    Countries
    Sector(s)
    Palestine* : € 755,572.35
    Services : € 755,572.35
    Signature date(s)
    11/09/2013 : € 755,572.35
    Link to source

    Summary sheet

    Release date
    10 April 2013
    Status
    Reference
    Signed | 11/09/2013
    20130034
    Project name
    Promoter - financial intermediary
    ACAD MICROFINANCE PALESTINE
    ACAD (Arab Center for Agricultural Development)
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 1 million
    EUR 11 million
    Location
    Sector(s)
    Description
    Objectives

    Participation in a Palestinian microfinance organisation: transformation of an existing association into a sustainable financial company.

    The project consists of backing ACAD in the transformation process from an association to a sustainable financial company, with a wide scope of providing credit to farmers as well as to other micro-entrepreneurs.

    Environmental aspects
    Procurement

    In line with EIB's requirements.

    NA

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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