The European Bank for Reconstruction and Development (EBRD) today launched a programme of advisory support for small and medium-sized enterprises (SMEs) in the West Bank and Gaza. This builds on its worldwide activities in 38 different economies.
This programme, part of the ERBD Advice for Small Businesses Programme (ASB), aims to foster entrepreneurship and growth by offering advice to small businesses and by creating more jobs in the private sector.
It is hoped that SMEs, which account for roughly 95% of all private sector activities in the occupied Palestinian territories, will benefit from the active support of professionals through the ASB programme. This EU-supported programme will forge links between a wide range of Palestinian companies and local and international consultants.
This latest EBRD programme was launched during an event in Ramallah in the presence of EBRD staff and Abeer Odeh, Palestinian Minister of the National Economy, and Shukri Bsharah, the Finance Minister.
Last year, two projects were approved by the EBRD in the West Bank and Gaza: an SME credit line to Cairo Amman Bank Palestine for €4.1 million and a €2.0 million loan to a medical consultancy group to open ten branches in the West Bank, thus offering better medical services to the population.