EIB Boosts Palestinian Economy with €400M Credit Fund
The European Investment Bank (EIB) has stepped in to bolster the Palestinian economy with a €400 million credit fund. This initiative, signed with the Palestine Monetary Authority (PMA), aims to stabilise and grow the private sector, providing long-term, affordable financing.
The EIB, which has invested over €1 billion in Palestine since 1995, disbursed $192 million and €40 million last year to the PMA and Bank of Palestine respectively. It also funded a €20 million waste-water treatment plant in Ramallah. This latest facility is part of the European Commission's 'Multiannual and Comprehensive Programme for Palestinian Recovery and Resilience', with a total budget of up to €1.6 billion by 2027.
The operation will work through local financial institutions, improving access to finance for micro, small, and medium-sized enterprises, and Mid-Caps in Palestine. This will support the economic recovery and resilience of the Palestinian private sector.
The €400 million credit fund, guaranteed by the EIB, is set to strengthen the Palestinian economy. It will provide affordable financing to businesses, fostering stability and growth. This facility is a key part of the EU's broader plan to support Palestinian recovery and resilience.
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