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)
- Credit lines - Credit lines
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