EBRD Provides US$ 5 Million Loan to Support Palestinian SMEs

The European Bank for Reconstruction and Development (EBRD) is strengthening the resilience of the Palestinian private sector with a US$ 5 million loan to Housing Bank for Trade and Finance (HBTF) in the West Bank. The loan, funded by the European Union, will increase financing to local small and medium-sized enterprises (SMEs), particularly underserved businesses and women-led firms. The loan is part of the EU-EBRD Sustainable Growth4All Programme and comes with a technical assistance package to develop the skills and capacity of HBTF's staff in the West Bank.

Key Takeaways:

• The EBRD is providing a US$ 5 million loan to HBTF in the West Bank to support SMEs, including underserved businesses and women-led firms.
• The loan is funded by the European Union through the EU-EBRD Sustainable Growth4All Programme.
• HBTF will receive a technical assistance package to develop the skills and capacity of its local staff in the West Bank.
• Training sessions will focus on financial analysis, financial and digital technology, leadership skills, and sustainability.
• The loan is part of a broader initiative to strengthen the resilience of the Palestinian private sector.
• Speaking on the signing, EBRD Managing Director Francis Malige stated that Housing Bank for Trade and Finance is a longstanding partner of the EBRD.
• HBTF Regional Manager Osama Herzallah commented that the agreement builds on the bank's longstanding collaboration in Jordan.

Statistics:

• US$ 5 million loan to HBTF in the West Bank
• 36 projects worth a total of EUR185.5 million approved by the EBRD since its operations in the WB&G began in 2017
• 2017: HBTF started operations in the WB&G

Sources:

• European Bank for Reconstruction and Development (Payment of loan)
• EBRD (Press release)