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    Reference: 20090347
    Release date: 17 September 2009

    Promoter – Financial Intermediary

    Early stage IT companies based in the Palestinian Territories

    Location

    Description

    Participation in a venture capital fund currently being established, which will primarily invest in early stage private, export oriented businesses located in the Palestinian Territories and active in business services, software and communication.

    Objectives

    The Fund would be the first venture capital fund focusing on the Palestinian Territories. It will support the development of the financial sector and private sector in the Palestinian Territories by providing equity or quasi-equity financing for the expansion of local early stage companies, which completely lack a source of venture capital financing that is critical for their growth.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 5 million (to be financed under the FEMIP Trust Fund)

    Total cost (Approximate amount)

    Total size of the Fund is between USD 35 million and USD 50 million.

    Environmental aspects

    Not applicable

    Procurement

    Not applicable

    Status

    Approved - 12/10/2009

    Disclaimer

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

    Related tags

    Mediterranean Countries Services