Release date: 5 January 2022
Promoter – Financial Intermediary
PALESTINE MONETARY AUTHORITYLocation
Description
The facility aims to finance eligible small and medium-sized investments undertaken by small and medium-sized enterprises (SMEs) and mid-caps in Palestine, thereby contributing to economic resilience, employment generating activities and alleviating the economic burden of the refugee crisis in the country.
Additionality and Impact
The Facility aims to finance eligible small and medium sized investments undertaken by SMEs and Mid-Caps in Palestine, thereby contributing to economic resilience, employment generating activities and alleviating the economic burden of the Covid-19 crisis in the country. SMEs make up the vast majority of firms in Palestine and, as such, play a vital role in creating and safeguarding employment, especially for young people and women. Access to finance is perceived as one of the biggest obstacles to the expansion of SMEs. The proposed operation is expected to enhance access to finance to SMEs and Mid-Caps, in that it will allow the selected financial intermediaries to make available funding at improved terms and conditions of loans.
Objectives
Financing of small/medium projects carried out by Palestinian small and medium-sized enterprises (SMEs) and mid-caps.
Sector(s)
- Credit lines - Credit lines
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Proposed EIB finance (Approximate amount)
USD 200 million (EUR 168 million)
Total cost (Approximate amount)
not applicable
Environmental aspects
The Bank will require the intermediary institution to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the EIB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.
Procurement
The Bank will require the intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects that the Bank finances are in accordance with the Bank's Guide to Procurement.
Status
Signed - 6/10/2021
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).