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Cairo Amman Bank and European Bank for Reconstruction and Development (EBRD) Sign Agreement to Support SMEs with $10 million, $2 million Allocated for Women’s Projects

October 26, 2022

Cairo Amman Bank and the European Bank for Reconstruction and Development (EBRD) signed an agreement to support small and medium-sized enterprises and entrepreneurial projects, especially women’s, through the financing of $10 million. This came during a ceremony that took place in the building of the regional administration of Cairo Amman Bank in the city of Ramallah, in the presence of representatives of each of the two banks, headed by the Deputy General Manager – Regional Director of Cairo Amman Bank, Mr. Joseph Nisnas, and the Vice President of the European Bank for Reconstruction and Development EBRD, Mr. Juergen Rechtrink.

Mr. Joseph Nasnas stated, “The partnership between Cairo Amman Bank and the European Bank for Reconstruction and Development is a strategic partnership that began in 2018 when Cairo Amman Bank was the first bank to sign a financing agreement with EBRD in Palestine. These agreements aim to enhance and support the resilience of the Palestinian economy and create job opportunities.” New projects on the local aspect by providing the necessary financing to support small and medium enterprises and entrepreneurial projects, especially women’s projects, which in turn constitute an important part of the Palestinian economy.

Nisnas affirmed that “this partnership is in line with Cairo Amman Bank’s strategic vision to support the Palestinian economy in the public and private sector institutions mainly to achieve the principle of financial inclusion by providing financial solutions to all institutions and groups of the Palestinian society and facilitating their access to the financing necessary for the advancement of the economy.”

What distinguishes this agreement is the allocation of $2 million to fund women entrepreneurs, in addition to providing consulting services for these projects in particular, which helps in improving their performance and enhancing their competitiveness by providing training and guidance to women entrepreneurs and introducing them to the latest digital technologies that can be used to advance their projects.

It is worth mentioning that Cairo Amman Bank was established as a Jordanian public shareholding company on the eleventh of June 1960, and it is still keen to employ its strong capital base and long-standing experience spanning over 5 decades, to play a pioneering and distinguished role in serving the Palestinian national economy by providing a comprehensive and distinguished set of successful banking services and solutions that meet all the diverse needs of our customers. Our pioneering services have added a new dimension to many projects in the community, through financing development projects in addition to providing financing needs for small, medium, and even micro-projects that supply the Palestinian economy, in addition to meeting the immediate needs of our customers by providing personal loans through salary transfer and providing investment services and credit cards, and bank transfers through a distinct and integrated network of banking branches in Palestine.