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TunisiaEuropean Bank for Reconstruction and Development to boost trade in West Bank and Gaza
The European Bank for Reconstruction and Development (EBRD) is helping Palestinian exporters and importers by providing US $2 million in trade financing to Quds Bank under EBRD’s Trade Facilitation Programme (TFP). The financing will help Quds Bank, the third-largest commercial bank in West Bank and Gaza, diversify its trade finance business, increase available limits and offer longer-term maturities to its customers.
Launched in 1999, the EBRD’s Trade Facilitation Programme aims to promote foreign trade to, from and among the economies in which the EBRD invests. Through the programme, the Bank provides guarantees to international confirming banks, short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.
In 2017, the EBRD started investing in the West Bank and Gaza. To date, three projects have been signed for a total amount of €14 million.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. It combines investments with policy dialogue and, through activities like its Community Initiative, also reaches out to support local societies and knowledge about EBRD countries.
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