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    Reference: 20190092
    Release date: 29 November 2019

    Promoter – Financial Intermediary

    PALESTINIAN COMPANY FOR CREDIT AND DEVELOPMENT (FATEN)

    Location

    Description

    The operation consists of a senior loan of up to USD 10 million to fund the microfinance activities of Palestinian Company for Credit and Development (FATEN) in Palestine.

    Objectives

    The facility will boost the access to finance for Palestinian micro and small enterprises (MSEs) and hence support thousands of beneficiaries with a special focus on youth, rural areas, women and socially excluded groups. MSEs are defined as businesses with fewer than 10 employees in both urban and rural areas, including self-employed individuals, sole proprietors and micro entrepreneur groups.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    USD 10 million (EUR 9 million)

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Signed - 9/10/2019

    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

    Palestine* Credit lines