Palestine Investment Bank Signs Framework Agreement to Provide Financing for Projects and Companies within an EU-Funded Program

SadaNews - The Palestine Investment Bank, represented by General Manager Dr. Samih Subih, and the Palestinian Monetary Authority, represented by Deputy Governor Muhammad Mansara, signed a framework agreement aimed at providing loan financing for small and medium-sized enterprises within a financing program implemented by the European Union and the European Investment Bank in cooperation with the Palestinian Monetary Authority. The program aims to enhance access to financing by Palestinian small and medium-sized projects and companies, enabling them to develop their businesses, grow, and face current economic challenges. It also includes a technical support program aimed at strengthening the support system for small and medium-sized enterprises, in addition to supporting financial institutions and related sectoral initiatives.

The agreement was signed under the auspices of the Prime Minister and in the presence of the Ministers of Finance, Planning, Economy, Energy Authority, Water Authority, and representatives from the European Union and the European Investment Bank.

This funding comes as part of a comprehensive European program package amounting to 400 million euros to support economic recovery and enhance financing for the Palestinian private sector, where the Palestine Investment Bank is one of the local banks involved in implementing the program.

Dr. Samih Subih, General Manager of the Palestine Investment Bank, stated that signing this financing agreement is in line with the strategic vision of the Palestine Investment Bank to provide financing and suitable solutions for the Palestinian private sector and empower small and medium-sized enterprises to access flexible financing solutions that help them continue to grow and expand despite the current economic challenges. We believe that enhancing the private sector's capacity to invest and produce is a fundamental pillar for supporting and developing the national economy, creating job opportunities, and achieving sustainable development.