Release date: 7 December 2005
Promoter – Financial Intermediary
Palestinian National Authority / Ministry of FinanceLocation
Description
The operation concerns a credit guarantee fund for small and medium sized businesses in Gaza West Bank, which aims at facilitating access to medium-term bank finance through local banks. The project is being implemented under the aegis of German Financial Cooperation/ KfW, with further financial contributions envisaged from the European Commission and the EIB.
Objectives
The operation will promote private sector (SME) development and thus contribute to the recovery of the Palestinian economy and the safeguarding and creation of employment opportunities.
Comments
SME and financial sector.
Sector(s)
Proposed EIB finance (Approximate amount)
Conditional loan (risk capital resources) of up to EUR 10 million.
Total cost (Approximate amount)
EUR 28 million.
Environmental aspects
The financial intermediaries will undertake to promote compliance of the sub-projects with relevant national and EU law.
Procurement
Following EIB’s procurement guidelines in force for risk capital financing.
Status
Signed - 13/12/2005
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).