Bank of Palestine - SME loan, WiB loan, TFP limit (EBRD-50992)

Countries
  • Palestine, West Bank, Gaza
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 8, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Bank of Palestine
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 22, 2020

Disclosed by Bank Jun 19, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to bank provided information, the investment is provision of a USD 20 million package to Bank of Palestine (BoP), comprised of: (i) a loan of up to USD 13 million for on-lending to micro, small and medium-sized enterprises (MSMEs) in the West Bank; (ii) a Women in Business (WiB) loan of up to USD 2 million to BoP for on-lending to women-led MSMEs in the West Bank; and (iii) a Trade Facilitation Programme (TFP) limit of USD 5 million.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Financial Intermediary
Private Actors
Private Actors Description

Bank of Palestine is the largest bank in the West Bank and Gaza with assets of USD 5 billion at YE2019. It was founded in 1960, in Gaza.  

Now headquartered in Ramallah, the bank operates a total of 73 branches across the West Bank and Gaza, in addition to representative offices in Dubai and Chile to serve the local Palestinian diaspora. BoP has a total of 1,731 employees and serves 917,000 clients. 

The BoP banking group also encompasses an Islamic banking arm, a brokerage company, and an e-payment solutions and fintech arm.

BoP offers a broad array of financial products and services including retail, corporate, Islamic banking, e-banking and SME lending. BoP also focuses on providing services to promote the financial inclusion of women and youth. 

Contact Information

Kamel Husseini
kamel.husseini@bankofpalestine.com 
+97022946700
+97022964703
www.bankofpalestine.com/en 
General Management - Head Office P.O. Box 471, Ramallah Palestine

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.