The European Investment Bank and the Palestinian non-for profit private shareholding company, Faten, have signed on 21 October a $10 million-loan agreement to finance self-employed individuals, sole proprietors and micro entrepreneurs in Palestine.

The agreement was signed under the Southern Neighborhood Microfinance Facility, a €71.3 million lending facility which supports investments in microfinance markets in Southern Neighborhood countries.

The new loan is in line with the EU bank’s commitment to support financial inclusion, which is important for improving the resilience of the overall economy. Several thousands of beneficiaries will benefit from this support.