PROJECT

Projects

Summary of Investment Information

Project Number

45752

Company Name

VITAS PALESTINE

Date SPI Disclosed

Mar 10, 2022

Country

West Bank and Gaza

Region

Middle East

Projected Board Date

May 2, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 14, 2022

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : May 27, 2022
Signed : Nov 17, 2022
Invested : Dec 5, 2022

Sector

Microfinance and Small Business - Non Commercial Banking

Additional Project Attributes

Blended Finance

Project Description

The proposed project (“Project”) consists of an investment of up to US$ 5 million to Vitas Palestine (“Company”) in the form of a senior term loan with a maturity of up to five years and a grace period of one year. The investment proceeds will be used by the Company to lend to Small and Medium Enterprises (“SMEs”) including Women-owned SMEs (“WSMEs”) in West Bank and Gaza. An interest rate buy-down from the Global Small and Medium Enterprises Financing Initiative (“GSMEF”) will complement the investment package to help address a key market barrier of access to finance for SMEs, including Women-owned enterprises in West Bank and Gaza.  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation