EIB boosts Palestinian SMEs with credit line to The National Bank

The European Investment Bank has agreed a $50 million line of credit extended to The National Bank -  the second largest Palestinian bank - to be on-lent primarily to local small and medium-sized enterprises in Palestine.

This is the EU Bank’s first operation in response to the COVID-19 related emergency in Palestine, and it is part of the Team Europe Initiative to help mitigate the economic consequences of the coronavirus pandemic. The EIB financing comes under the Economic Resilience Initiative, which is part of the European Union’s response to the challenges in the Southern Neighbourhood, such as forced displacement and migration, economic downturns and political crises.