Faten started its activities in 1998 and is today the leading Palestinian microfinance institution (MFI) for the number of clients served and the size of its loan portfolio. Faten mainly targets microenterprises in the West Bank and Gaza.
The MFI benefits from an excellent knowledge of its market segment and a management team with a long-term strategic vision, which enables it to fulfil its social mission.
The project involves the allocation of a second senior credit line for USD 8m to Faten to support the development of its loan portfolio.
The main expected impacts of the project are as follows:
- Access to a microcredit for 1,029 microentrepreneurs
- About 27 direct jobs and about 891 indirect jobs supported
- With 63% of women employees and 37% of women in the MFI’s management team, 30% of this financing qualifies for the 2X Challenge initiative to reduce gender inequalities.
The project will contribute to SDG 1 (“No poverty”), SDG 5 (“Gender equality”), SDG 8 (“Decent work and economic growth”) and SDG 10 (“Reduced inequalities”).
This information is given at the time of signature, without prejudice to any developments in the operation/project
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News
SignatureProparco supports Faten's action in the most fragile areas of the Palestinian Territories
Published on 08 December 2022 -
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