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TunisiaEBRD and EU boost support to private sector in West Bank and Gaza
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have marked their five-year partnership in support of micro, small and medium-sized enterprises (MSMEs) and the private sector in the West Bank and Gaza with an event highlighting their achievements under the Advice for Small Businesses (ASB) programme.
Launched in the West Bank and Gaza in 2017, the EBRD business advisory programme aims to boost the Palestinian private sector competitiveness and innovation, as well as to increase access to finance for MSMEs. The programme is co-financed by the EU and has supported 89 advisory projects to date, connecting businesses with local consultants and international advisers, enabling them to enhance their productivity, increase turnover and export to new markets.
During the event, the EBRD and the EU highlighted their achievements in supporting small businesses. Several companies that have benefited from the ASB programme were featured at the event. The tailored advice these businesses received enabled them to expand their operations and markets locally and regionally.
To date, the EBRD has financed 20 projects for a total of €90 million and continues to support Palestinian MSMEs through its ASB programme, including women-led businesses.
In 2022 the EBRD Board of Directors approved an extension of the Bank’s work in the West Bank and Gaza, solely through investments in the private sector via a trust fund, to 2027.
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