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VITAS PALESTINE

Signature(s)

Amount
€ 6,942,414.59
Countries
Sector(s)
Palestine* : € 6,942,414.59
Credit lines : € 6,942,414.59
Signature date(s)
14/12/2020 : € 2,713,369.51
19/12/2017 : € 4,229,045.08
Link to source
Data sheet
VITAS PALESTINE
Other links
Related press
Palestine: #TeamEurope - EIB and Vitas Palestine support microentrepreneurs with a USD 3.3 million top-up loan

News & Stories

Link to source
Related press
Palestine: #TeamEurope - EIB and Vitas Palestine support microentrepreneurs with a USD 3.3 million top-up loan
Other links
Data sheet
VITAS PALESTINE

Videos

Thumbnail: From refugee to food business owner
From refugee to food business owner
Learn more
Thumbnail: A life changing loan: The story of a Palestinian farmer
A life changing loan: The story of a Palestinian farmer
Learn more

Photogallery

Mahmoud has been in business for 10 years. He always wanted to work with hair. It was a passion for him as a young man and he started it as a hobby 15 years ago. It was easy for him to learn the technical skills and he enjoys the business. After working with other barber shops for the initial five years, he decided that he wanted to set up his own place. Ten years ago he opened his first shop, and the business continues to thrive today. But, he wanted to improve his working space and present something unique to his customers and also attract new customers. After getting his funding, he employed a design consultant to conceptualise the new space and within two weeks the entire place had been refurbished. It’s a very modern design with artistic touches and vibrant colours. It’s very trendy. He knew his vision would cost money because the elements he wanted to incorporate were expensive. He approached Vitas to help improve his business, and to help improve his standard of living and ultimately increase his income. His relationship with Vitas is key for him. He was able to significantly improve his business in a very short space of time with access to finance that he wouldn’t have been able to get from traditional sources. The support of Vitas is also vital for other businesses in the area as it encourages young people, when they see a business succeeding, to want to do better for themselves.
Almokhtar Salon
Photographer: Nicholas Lapite
©EIB
This is the only car wash in this region, so you could say he has a monopoly on the market. Having been in business for the last 7 years, he wanted to improve his offering to his clients. He was washing all the cars by hand which guaranteed a bespoke service, but was time consuming and limited the number of cars he could clean in a day. He was also working mostly alone. Approximately one month ago he decided to speak with Vitas about how to access finance to improve his business. With a loan of 3000USD he was able to buy two pressure washers, a vacuum cleaner and a variety of car cleaning products. As he already had his own space, he just needed to focus on improving the quality of service. He’s now faster, is increasing turnover, and has been able to take on more staff, with three other people working with him. The work is good here and he is very happy. The relationship with Vitas is so valuable for him and the community as a whole. He’s making more money, the quality of his work is improving and he’s able to provide people with jobs.
Alsalam Laundry
Photographer: Nicholas Lapite
©EIB
This bakery has been in the same spot since 1955. It was opened by his grandfather who handed it over to his father, and now it is proudly run by Islam Suhail Abu Ajaj. It’s a thriving business in the heart of a very vibrant commercial centre. With a solid reputation for offering excellent service and a wonderful range of bread products, Islam Suhail Abu Ajaj decided that he wanted to increase his offering. With a small loan from Vitas, he was able to buy a new machine that allows him to make a baguette type roll which he can sell directly to the public, but more importantly he is now selling this product to hotels and cafes who offer sandwich products to their clients. The increase in turnover from one machine has allowed him to take on at least one new member of staff, he’s increased productivity because he’s not making the same product by hand anymore, and he’s planning to continue to expand the business and offer new and interesting bread products. Vitas to him is necessary for the continued development of small and medium sized businesses in the west bank who wouldn’t have access to any financial products to help grow their businesses. This source of micro capital is vital to development in the West Bank.
Abu Mosa Bakery
Photographer: Nicholas Lapite
©EIB

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
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.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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