EBRD and EU partner with Palestine Investment Bank to support women-led businesses

• EBRD loan of €2 million to support women-led businesses in the West Bank
• Increased access to finance for women-led MSMEs and promotion of gender inclusion
• EU-supported financing through technical assistance and 20 per cent first-loss risk cover

The European Bank for Reconstruction and Development (EBRD) is extending a €2 million loan to Palestine Investment Bank (PIB) to expand access to finance for women-led businesses in the West Bank, a critically underserved segment of the local economy. The loan is supported by European Union (EU) funded technical assistance and first-loss risk cover.

The loan is provided under the EBRD’s Women in Business programme and will be used for on-lending to eligible private micro, small and medium-sized enterprises (MSMEs) led by women in the West Bank, to support them in the current operating environment and challenging conditions. The facility will be accompanied by 20 per cent first-loss risk cover funded by the EU through its Initiative for Financial Inclusion (Neighbourhood Investment Facility – SEMED Financial Inclusion Programme).

PIB will also receive an EU-funded technical assistance package to develop sustainable credit mechanisms, including financial products and lending practices tailored to the specific needs of women-led MSMEs, as well as staff training and marketing activities.

The EBRD’s Advice for Small Businesses programme will offer advisory and capacity-building services to PIB’s women sub-borrowers to help improve their competitiveness and business performance through consultancy services, training sessions, mentorship and coaching.

Commenting on the signing, EBRD Director for the Eastern Mediterranean Region Gretchen Biery said: “We are pleased to partner with Palestine Investment Bank to support Palestinian women-led businesses in the West Bank. This financing will help unlock greater economic opportunities for women and underscores our shared commitment with the EU to advancing gender inclusion in the economy.”

Sameeh Sbaih, PIB Chief Executive Officer (CEO), said: “We are proud to partner with the EBRD under the Women in Business programme. This agreement marks an important step in promoting financial inclusion and supporting women-led businesses, especially in the current challenging environment. We thank the EBRD and the EU for their support, which will strengthen our ability to serve those most in need, promote women’s entrepreneurship and contribute to a more resilient and inclusive economy.”

PIB was established in 1994 and is headquartered in Ramallah. The bank employs over 330 people and operates 21 branches and offices, including a branch in Bahrain and a representative office in London. It provides a full range of commercial banking services to retail, corporate, SME and public-sector clients.

Since the start of its activities in the West Bank and Gaza in 2017, the EBRD has approved 39 projects worth a total of €209.5 million.