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Supporting Palestinian high-impact SMEs
Project
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Signature date
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Location
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Palestine
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Financing tool
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Financing amount (Euro)
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1000000
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Financing details
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ILS 3,912,810 guarantee
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Customer
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QUDS BANK
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Type of customer
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Financial institution
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Country of headquarters
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Palestine
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Project number
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CPS1262
This project is carried out with the support of the European Union.
The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and Quds Banks have partnered for the first time to scale up support to Palestine’s private sector, with a focus on green SMEs and SMEs owned by women.
Client presentation
Quds Bank was set up in Palestine in 1995. It is the fourth largest bank in Palestine with 7.8% of the assets of the banking sector. The bank, which is headquartered in Ramallah, operates via 39 branches, 70 ATMs and currently has 741 employees. It offers its services to a wide range of private and business clients, especially SMEs.
Project description
Quds Bank and Proparco have signed the first risk-sharing agreement under the European Union’s MENA SME Facility. This operation will allow Quds Bank to lend the equivalent of EUR 2m to SMEs, with a focus on high-impact companies, especially green SMEs, companies owned by women and start-ups.
Project impact
The project will contribute to Quds Bank’s efforts to support Palestinian SMEs operating in key segments, such as green microenterprises and small and medium-sized enterprises (companies operating in sectors such as renewable energies, energy efficiency and sustainable agriculture), SMEs owned by women and start-ups.