Trade Finance - Helping Importers Save Lives
Since its inception in 2005, IFC’s trade finance program has issued 146 guarantees worth $16 million to Bank of Palestine and Al Rafah. IFC’s guarantees support the import of machinery, agricultural goods, iron and steel, and medical equipment to the West Bank and Gaza, where the shifting security situation often makes foreign firms ...
Bank of Palestine, Investing in Its People - IFC
Bank of Palestine is working closely with IFC to meet several priority needs in the West Bank and Gaza, beginning with the offering of combined investment and advisory products. Over the past year, IFC’s Advisory Services team in MENA has been working hand-in-hand with the bank’s management to help it create a solid risk management system ...
IFC DIGITAL SCOPING - International Finance Corporation
• KYC in the West Bank and Gaza is controlled by the AML Law and the Palestine Monetary Authority Law #2 of 1997. The PA has a very effective supervision and regulatory compliance function for financial institutions and non-financial businesses and professions (DNFBPs)1 • The AML law was decreed by the president in 2007 which was developed
Accelerating Growth and Job Creation - International Finance Corporation
Gaza’s only power plant suffers from lack of fuel, aging feeding lines, and damage caused by wars. Blackouts have devastated the territory’s manufacturing sector, which has shriveled by 60 percent since the late 1990s. IFC is helping reverse that decline. In 2018, we launched a Maximizing Finance for Development initiative — working with ...
MENA Entrepreneurs - IFC
IFC’s $1 million equity investment in the fund in 2016 was a big boost to Ibtikar. It helped fill a critical funding gap for entrepreneurs in the West Bank and Gaza. “So far, we’ve invested in 19 different companies. We support them and mentor them, make sure they have good governance, and try to ensure as few barriers for investors as ...
IFC PPPs in Waste - International Finance Corporation
In 2016, the worlds’ cities generated 2.01 billion tons of solid waste, amounting to a footprint of 0.74 kilograms per person per day. By 2050, this number is projected to climb to 3.4 billion. Poorly managed waste has an enormous impact on people’s well-being, the environment, and national economies that often results in higher costs for ...
“Future Change Agents” Shape Governance in the West Bank
The project is especially relevant because this is the first formal corporate governance education program to be launched in the West Bank and Gaza, says Bashar Abu Zarour, the PCMA’s General Director of Research and Development. “These students could be the future change agents in their companies as they will join the workforce equipped ...
Alafaq Aljadida Blended Finance Facility
IFC has embarked on a regional partnership with the Government of the Netherlands to support development across the MENA region, where the local economic problems and unrest have been exacerbated by COVID-19. The $70 million IFC-Netherlands partnership includes a dedicated $22 million blended finance facility, Alafaq Aljadida (New Horizons), to ...
IFC's Trade Finance Partners: Providing Critical Support
In FY 2021, our Global Trade Finance Program supported transactions worth $6.2 billion globally. Through the program, IFC supported $4.2 billion trade in IDA countries and Fragile and Conflict Affected States. None of this would have been possible without the support of our trade finance partners. IFC is grateful to recognize its leading ...
Entrepreneurship - International Finance Corporation
Entrepreneurship. Women play a critical role in the global economy as entrepreneurs. They help create jobs, generate income, and boost revenue—driving economies while reducing inequalities between women and men. In many emerging economies, women are starting businesses at a faster rate than men, significantly contributing to the economic growth.