Microfinance and Small Credit Line - Phase I and II "Start-Up Palestine Program"
Project Description: This credit line was established in 2016 with the aim of enhancing access and obtaining credit for medium, small and micro companies within the framework of Palestinian law. Six local Microfinance institutions were granted a financial portfolio of 14 million euros to be supervised by the PFESP, in partnership with the Ministry Finance and funded by the Italian Agency for Development Cooperation (AICS).
This exceptional pioneering program has contributed to improving the social impact and economic reality, as well as ensuring the achievement of sustainability for medium, small and micro enterprises that have been given priority in benefiting.
The aim: facilitating the creation of opportunities for marginalized and vulnerable groups and owners of small and medium enterprises in Palestine to access financing and financial support. They constitute the largest proportion of the economic sector in Palestine. This is to develop this sector, create job opportunities to reduce unemployment, and encourage entrepreneurs to start and develop their projects.
Geographical area: The West Bank and Gaza Strip, in addition to Jerusalem
Target groups: owners of small and medium enterprises in Palestine, in addition to young and women entrepreneurs and the unemployed.
Donor: Italian Agency for Development Cooperation
Partners: Ministry of Finance and Planning
Budget: 14 million euros
Time period: 05/2016 - 04/2024