According to bank provided information, the investment involves the provision of an SME loan of up to USD 3.0 million (EUR 2.6 million equivalent) in favor of Palestine for Credit and Development (FATEN), a non-profit microfinance institution incorporated in the West Bank.
The credit line will be used by FATEN to on-lend to MSMEs in the West Bank with a focus on those operating in the agribusiness sector.
Palestine for Credit and Development (FATEN) was established in its current form in 1999 as a private non-profit company registered with the Palestinian Ministry of Economy. In May 2014, FATEN became licensed by the Palestine Monetary Authority (PMA). Since its establishment, FATEN has played a key role in supporting the MSME sector in the West Bank and Gaza, creating job opportunities and reducing poverty and unemployment rates.
+970 2 296 1471
Al-Tireh, P.O Box 2446, Ramallah, West Bank & Gaza
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