•    EBRD provides US$ 5 million loan under the Green Economy Financing Facility (GEFF) to The National Bank (TNB)
•    The facility will benefit from EU-funded technical assistance for TNB as well as investment grants for the benefit of sub-borrowers 
•    The EBRD is also extending a US$2 million trade finance limit to TNB to support Palestinian importers and exporters  
 

The European Bank for Reconstruction and Development (EBRD) is supporting the Palestinian economy with a US$ 7 million financing package consisting of two facilities to The National Bank (TNB). 

Under the EU-funded Green Economy Financing Facility (GEFF) Framework for the West Bank and Gaza, up to US$ 5 million will be on-lent to private MSME and residential sub-borrowers for investments in small-scale renewable energy, water, energy, and resource efficiency projects, including the circular economy concept, and support of relevant green technology supply chains. 
This facility is supported by a comprehensive technical assistance and investment grants package funded by the European Union (EU) through the EU-EBRD Sustainable Growth4All Program. The package will include technical assistance to support the implementation of the programme as well as investment grants for MSMEs and residential sub-borrowers of up to 25% per sub-project (high performance technologies will benefit from a higher incentive). 

The EBRD will also extend US$2 million trade finance limit to support the trade finance business of TNB by issuing guarantees in favour of confirming banks to support pre-export, post-import, and local distribution of imported goods.

Commenting on the signing, EBRD’s Managing Director for Financial Institutions, Francis Malige, said: “We are pleased to be here in Ramallah today to launch the first Green Economy Financing Facility (GEFF) loans with our partner financial institutions. Our collaboration with The National Bank will help promote sustainable energy and resource efficiency solutions for businesses in the West Bank. This package underscores our shared commitment with the EU to advancing a greener private sector in the region”. 

Salameh Khalil, TNB’s Chief Executive Officer (CEO), said: “We are proud to be among the first Palestinian banks to partner with the EBRD under the Green Economy Financing Facility. This agreement marks an important step in our commitment to promoting sustainable finance and supporting businesses in their transition to greener practices. We would like to thank the EBRD for this support and thank the EU for the much-needed technical assistance and investment grants.”

The National Bank (TNB) is one of the leading financial institutions operating in the West Bank through 38 branches and offices. TNB plays a pivotal role in supporting economic development by offering a diverse range of retail, corporate, and investment banking services. TNB is recognized for its commitment to financial inclusion and innovation, with a focus on empowering underserved populations, particularly women and youth. 
Since the start of its operations in the WB&G in 2017, the EBRD has approved 36 projects worth a total of €185.5 million.