The capital is being distributed through the Palestine Monetary Authority to five local banking institutions. The Bank of Palestine leads the allocations with $150 million, followed by Quds Bank at $100 million, Palestine Investment Bank at $70 million, The National Bank at $50 million, and Cairo Amman Bank at $25 million. This injection aims to provide affordable credit to companies that would otherwise struggle to maintain operations or preserve jobs during this period of prolonged instability.
Beyond direct lending, the program includes a technical assistance component funded by €2.1 million to help financial institutions refine their service models and improve the broader business ecosystem. EIB Vice-President Gelsomina Vigliotti stated that this dual approach is critical for maintaining economic resilience. The initiative serves as a core pillar of the European Commission’s 2025–2027 recovery strategy, which plans to deploy up to €1.6 billion in total support for the West Bank, East Jerusalem, and Gaza. Palestine Monetary Authority Deputy Governor Mohammad Manasrah noted that the funding provides a necessary lifeline for firms facing exceptional pressure, ensuring that essential commercial activity continues despite the challenging environment.
Comments (0)
No comments yet. Be the first!