FATEN, which was set up in 1998 by the NGO Save the Children, serves populations in the West Bank and Gaza where there is a low level of financial inclusion. FATEN is the leading microfinance institution in Palestine, both in terms of portfolio volume and the number of clients served. Indeed, it serves over 31,000 clients, 32% of them women, via a network of 37 branches, including 10 in Gaza.
The MFI benefits from in-depth knowledge of its market segment. The institution has a highly professional and visionary management team allowing it to carry out its social mission, which is central to its strategy.
The project involves the allocation of a USD 8m senior credit line to the Palestinian microfinance institution (MFI) FATEN to support the development of its loan portfolio.
We estimate that Proparco’s support for FATEN’s growth should help:
- Create or maintain over 350 direct jobs over the next 5 years, including about 150 women for which the company has implemented a specific HR policy (attention given to gender issues in monitoring the company’s performance, maternity leave). In addition, the project should support some 7,500 indirect jobs with FATEN’s clients, with some 39,000 active clients by 2024.
- Develop the growth of FATEN’s activity with Palestinian microentrepreneurs, with the allocation of some 7,500 additional microcredits (including 33.3% to women) thanks to Proparco’s commitment.
This information is given at the time of signature, without prejudice to any developments in the operation/project