Proparco invests in Bank of Palestine to foster inclusive growth in Palestine
Bank of Palestine (BOP) and Proparco jointly announced today the signing of an agreement that will see FISEA (the AFD Group fund advised by Proparco), invest USD 12 million in Bank of Palestine through a special issuance of shares. BOP is the leading banking group in Palestine with a deep commitment to financial inclusion, lending to Small and Medium-sized Enterprises (“SME”) and women empowerment. This investment, which comes along a EUR 340,000 technical assistance program to support BOP’s impact-driven projects, will support Bank of Palestine’s efforts to expand financial inclusion and help economic and social development in a fragile market, where economic woes were further exacerbated by the Covid-19 health crisis.
