Luxembourg, 28/12/2000 (Agence Europe) - The European Investment Bank is lending EUR 13 million to Cairo-Amman Bank (CAB), which has its headquarters in Jordan and has an extensive network of agencies in Gaza and the West Bank, for the financing of investments by small and medium-sized enterprises in the productive sectors of the Palestinian economy, in Gaza and the West Bank. The loan consists of:
- a global loan of 10 million euros financed out of the Bank's own resources earmarked for long-term credits for Palestinian SMEs in industry, services and, as the situation allows, tourism;
- a conditional global loan of 3 million euros, financed under the MEDA programme, out of venture capital from the EU budget and earmarked in particular for strengthening the capital base of private enterprises in the business and services sectors.
This is the second operation the Bank has concluded with the CAB. In a press release, the EIB notes that its funds are being provided to a "well managed Jordanian/Palestinian bank, which has built up a relationship with a wide range of enterprises". It adds: "It is hoped that a return to more peaceful conditions in the region will allow for a rapid take-up of the facility."