EBRD and Bank of Palestine boost small businesses in West Bank and Gaza
The European Bank for Reconstruction and Development (EBRD) is supporting Palestinian micro, small and medium-sized enterprises (MSMEs) and women entrepreneurs by providing a financing package of US$ 15 million to Bank of Palestine, the largest bank in the West Bank and Gaza.

MSMEs are at the core of the Palestinian economy, representing more than 98 per cent of the local economy. However, only a quarter are owned by women. Exacerbated by the coronavirus pandemic, access to funding remains a constraint to the growth of many small businesses.

The package includes a US$ 13 million credit line to small businesses, providing them with critical liquidity to help mitigate the impact of the coronavirus pandemic. This credit line will help Bank of Palestine provide short-term loans to MSMEs facing liquidity strains due to a decrease in their activities and turnover caused by the crisis.