The European Bank for Reconstruction and Development (EBRD) is strengthening micro, small and medium-sized enterprises (MSMEs) and promoting international trade in the West Bank and Gaza, with a US$ 10 million financial package to Quds Bank.
The package includes a credit line of up to US$ 5 million for MSMEs and corporates, providing them with vital liquidity to help mitigate the impact of the Covid-19 pandemic. This credit line will help Quds Bank to provide short-term loans to businesses facing liquidity constraints due to a decrease in their activities and turnover.
In addition, the EBRD will continue to support exporters and importers in the West Bank and Gaza by providing a US $5 million increase in Quds Bank’s existing trade finance limit under the EBRD’s Trade Facilitation Programme (TFP). The financing will help Quds Bank to diversify its trade finance business, increase available limits and offer longer maturities to its customers.
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