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TunisiaEIB and Palestine Investment Bank strengthen support for local business investment
The European Investment Bank (EIB) and Palestine Investment Bank (PIB) will further strengthen targeted business financing to help Palestinian businesses expand business activity and create new jobs.
The new cooperation formally agreed in Ramallah today is designed to specifically support entrepreneurs and small businesses who face challenges accessing finance due to a lack of collateral and enhance access to business finance in a range of currencies
The new European Investment Bank initiative will enable the Palestine Investment Bank to provide EUR 19 million of new financing to entrepreneurs and business through 19 local offices.
The high-impact business financing cooperation, backed by the European Union, complements, and enhances the USD 20 million EIB credit line, to support Palestinian SMEs most impacted by the COVID-19 pandemic, provided through PIB agreed in 2021.
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