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Reference: 20190092
Release date: 29 November 2019

Promoter – Financial Intermediary

PALESTINIAN COMPANY FOR CREDIT AND DEVELOPMENT (FATEN)

Location

Description

The operation consists of a senior loan of up to USD 10 million to fund the microfinance activities of Palestinian Company for Credit and Development (FATEN) in Palestine.

Objectives

The facility will boost the access to finance for Palestinian micro and small enterprises (MSEs) and hence support thousands of beneficiaries with a special focus on youth, rural areas, women and socially excluded groups. MSEs are defined as businesses with fewer than 10 employees in both urban and rural areas, including self-employed individuals, sole proprietors and micro entrepreneur groups.

Sector(s)

Proposed EIB finance (Approximate amount)

USD 10 million (EUR 9 million)

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 9/10/2019

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Palestine* Credit lines