Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaPalestine: #TeamEurope – EU, EIB and The National Bank join forces to support SMEs
The European Investment Bank (EIB) supports the resilience of the Palestinian private sector with a USD 50 million line of credit extended to The National Bank (TNB) to be on-lent primarily to local small and medium-sized enterprises (SMEs)
This is the EU Bank’s first operation in response to the Covid-19 related emergency in Palestine, and it is part of the Team Europe Initiative to help mitigate the economic consequences of the coronavirus pandemic. The EIB financing comes under the Economic Resilience Initiative (ERI), which is part of the European Union’s response to the challenges in the Southern Neighbourhood, such as forced displacement and migration, economic downturns and political crises.
The EIB funding is made available as part of a package, including a comprehensive technical assistance programme and a risk sharing instrument on a later stage, to be provided under the EU’s European Fund for Sustainable Development (EFSD). These instruments aim to promote access to finance for SMEs in general and financial inclusion of underserved and vulnerable groups of the economy, including SMEs impacted by Covid-19 crisis, start-ups, women- and youth-owned businesses.
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Palestine *
