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A guarantee to Bank of Palestine to support SMEs and employment
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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4516711
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Financing details
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Guarantee of USD 5m
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Customer
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BANK OF PALESTINE
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Type of customer
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Financial institution
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Project number
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CPS1242
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has signed a USD 5m risk-sharing agreement with Bank of Palestine which can cover up to USD 10m of loans allocated to Palestinian SMEs by the bank.
Client presentation
Bank of Palestine was set up in 1960 and has continuously developed to become the leading financial institution in Palestine, with an extensive network of 73 branches, over 1,700 employees and 900,000 clients.
Project description
Through this partnership, Bank of Palestine will be able to support an increasing number of SMEs throughout the Palestinian Territories: in the West Bank, East Jerusalem and the Gaza Strip.
Project impact
This risk-sharing mechanism between Proparco and Bank of Palestine should cover the equivalent of EUR 13m in USD of investments in the private sector, support over 100 SMEs and help create and maintain some 900 jobs.