Summary of Proposed Investment
Project Number
7670
Company Name
Commercial Bank of Palestine-Microentreprise Credit Facility
Date SPI Disclosed
Jun 4, 1996
Country
West Bank and Gaza
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Regional Industry FIG MCT
Environmental Category
FI
Previous Events
Approved : Oct 10, 1996
Signed : Apr 14, 1997
Invested : Aug 13, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Microlending |
| Region | Middle East and North Africa |
| Sector |
Projected Board DateJune 27, 1996
Company NameArab Bank, Cairo Amman Bank, National Bank of Jordan, Commercial Bank of Palestine
Technical Partner and/or Major Shareholders
N/A
Project Cost Including proposed IFC investment
The aggregate size of each of the Jordian component and WBG component is estimated to be US$20 million constituted of IFC funds (40%), donor funds (20%) and commercial bank funds (40%). These funds will be subdivided among the participating banks and segregated into special purpose accounts at each participating bank for onlending to microenterprises.
Location of project and Description of site
West Bank/Gaza and Jordan
Description of Company and Purpose of Project
The purpose of the project is to provide a catalyst for the commercial banks to develop their microlending businesses and thus ensure a sustainable source of microfinance for the microbusinesses.
Environmental Category and Issues
This is a category C project according to IFC’s environmental review procedure. Therefore, no additional environmental analysis is required.
| Date SPI sent to PIC | June 4, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
Related ESRS/ERS
