The German Financial Cooperation through KfW Entwicklungsbank on behalf of the Federal Ministry of Economic Cooperation and Development (BMZ) and its financing partners, the European Commission and the European Investment Bank signed in 2005 agreements with the Palestinian Authority to fund the newly established European –Palestinian Credit Guarantee Fund (EPCGF).
Donors have agreed to contribute Euro 29 million to the Fund in the form of grants and a soft loan. The fund will support small and medium size enterprises’ access to finance from local banks. Senior officials from the Palestinian Authority, KfW, EIB and European commission attended the signing.
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