home
 
 | 

5 september 2016: “START UP PALESTINE”: ONE THOUSAND LOANS TO SUPPORT MICRO-ENTERPRISES IN PALESTINE

Within only six months from the activation of the “Start Up Palestine” credit line – which took place last February 2016 – one thousand loans, for a total amount of EUR seven million, have been disbursed to support Palestinian micro and small enterprises.
Loans, which were offered by five local microfinance institutions (Faten, Acad, Asala, Vitas and Al Ibdaa) at preferential rates, have made possible to support entrepreneurship among women (50% of beneficiaries), young graduates (40% of beneficiaries) and refugees (12% of beneficiaries), mostly in rural communities (more than 60% of loans) and micro-businesses in the agriculture sector (30% of loans). With respect to their geographical distribution, more than one loan out of five has been disbursed in the Gaza Strip.
 
Over the coming few weeks, the Palestinian Fund for Employment and Social Protection and Palestinian Ministry of Finance and Planning, local partners in the implementation of the “Start Up Palestine” initiative, are requesting the second instalment of the credit line, for an additional amount of EUR seven million: a real “doubling” of the Italian commitment to support those who until now, have been left aside the economic life in Palestine.