EBRD and Housing Bank strengthen access to finance for Palestinian enterprises

• US$ 5 million EBRD loan to Housing Bank
• Funds for on-lending to local SMEs, particularly underserved businesses and women-led firms
• EU-funded technical assistance package will be provided to HBTF to deliver a series of training to its staff based in the West Bank

The European Bank for Reconstruction and Development (EBRD) is providing a US$ 5 million loan to Housing Bank for Trade and Finance (HBTF) in the West Bank to support the resilience of the Palestinian private sector.

The loan will increase financing to local small and medium-sized enterprises (SMEs) based in the West Bank, including regional ones located outside the main cities, and women-led businesses.

Funded by the European Union (EU) through the EU-EBRD Sustainable Growth4All Programme, the facility is accompanied by a technical assistance package focused on developing the skills and capacity of HBTF’s staff in the West Bank to better serve SMEs.

Training sessions will include financial analysis, financial and digital technology, leadership skills and sustainability.

Commenting on the signing, EBRD Managing Director for Financial Institutions Francis Malige said: “Housing Bank for Trade and Finance is a longstanding partner of the EBRD, and we are proud to extend this partnership for the first time to its branches in the West Bank to strengthen access to finance for small businesses, particularly in underserved areas and for women entrepreneurs. This investment, alongside targeted EU-funded technical assistance, will help build the skills and capacity of HBTF’s local team and support sustainable economic opportunities where they are most needed.”

HBTF Regional Manager for the Palestinian branches Osama Herzallah said: “We are proud to sign this first agreement with the EBRD in the West Bank, which builds on our longstanding collaboration in Jordan. This partnership will allow us to expand our support to SMEs in the West Bank. The EU-funded technical assistance will further enhance our local team’s capabilities, ensuring that we deliver high-quality financial services tailored to the needs of our clients.”

Housing Bank for Trade and Finance was established in 1973. It is a universal bank, serving the retail, corporate, governmental and public sectors, as well as SMEs, through a large network of branches in Jordan, the West Bank and Gaza, and through other foreign branches and subsidiaries.

Since the start of its operations in the WB&G in 2017, the EBRD has approved 36 projects worth a total of €185.5 million.