Within the context of the 3rd meeting of the EU-Palestine Investment Platform, Proparco, an AFD Group subsidiary, signed a 60 million euro financing package with Cairo Amman Bank (CAB), Bank of Palestine (BOP) and the European Union (EU) to support green projects in Palestine. The package is composed of Proparco loans coupled with EU grants to provide investment incentives to Palestinian SMEs and technical assistance to project stakeholders. The signatures took place at the Palestinian Prime Minister’s office in Ramallah with the participation of the Palestinian Energy and Natural Resources Authority.

The initiative comes as a joint effort of Team Europe partners, the Palestinian Authority and private sector institutions to foster European investment in Palestine contributing to job creation, sustainable growth and welfare. Overall, six agreements were signed today for an amount of around EUR 200 million between the EU, Palestinian Banks, Proparco and its German counterpart KfW.

A new loan agreement in the amount of USD 35 million has been successfully signed between Proparco and AKLease. This is the only loan facility Proparco has extended to the Turkish financial sector in 2021. Through this agreement, AKLease will finance energy efficiency and renewable energy investments.

FinDev Canada, US DFC, Proparco and AXA XL announced they are providing an innovative financing solution to MFX Currency Risk Solutions (MFX) to enhance its liquidity and help position it for its next phase of growth. MFX is a socially-oriented company that supports impact investing in emerging and developing countries by providing hedging products that mitigate currency exchange risk.