The European Bank for Reconstruction and Development (EBRD) is supporting the Palestinian private sector and households with a US$ 10 million financing package to Quds Bank (QB). The package consists of two facilities: a GEFF loan of US$ 8 million under the Green Economy Financing Facility (GEFF) Framework, and a Women in Business loan of up to US$ 2 million under the Women in Business Programme.

Under the European Union (EU)-funded Green Economy Financing Facility (GEFF) Framework, up to US$ 8 million will be on-lent to private sub-borrowers – micro, small and medium-sized enterprises (MSMEs) and residential sub-borrowers – in the West Bank, for investments in small-scale renewable energy, water-, energy- and resource-efficiency projects, including circular-economy projects, and to support relevant green technology supply chains. This facility is supported by a comprehensive technical-capacity and investment-grant package funded by the EU through the EU-EBRD Sustainable Growth4All Programme. The package will include technical assistance to support the implementation of the programme as well as investment grants for MSME and residential sub-borrowers of up to 25 per cent of the sub-project investment cost.

A US$ 2 million Women in Business loan will be used for on-lending to eligible private women-led MSMEs based in the West Bank to increase the availability of long-term funding in these challenging times. Quds Bank will also receive an EU-funded technical assistance package to develop sustainable credit mechanisms, including financial products and lending practices that meet the specific needs of women-led MSMEs, as well as training for staff and marketing activities. The EBRD’s Advice for Small Businesses programme will offer consultancy services to QB’s women sub-borrowers to help improve their competitiveness and business performance through advisory services, training, mentorship and coaching, as well as the adoption of digital technologies in their day-to-day business.

Quds Bank is one of the leading financial institutions operating in the Palestinian market. It has been an EBRD client since 2019 and has played a crucial and active role in supporting the market. It is also among the most active banks in the region in utilising the EBRD’s trade finance lines and has won the “Most Active Issuing Bank in the West Bank and Gaza” award four times under the EBRD’s Trade Facilitation Programme.