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- Micro-Credits to Eligible Artisan Business in Palestine
Micro-Credits to Eligible Artisan Business in Palestine
Palestine
| Financing Type | Grants |
| Category | Palestine |
| Focus Area | Multisectoral |
| Approved | 10.12.2002 |
| Signed | 09.06.2004 |
| Loan Administrator | United Nations Relief and Work Agency for Palestine Refugees in the Near East |
| Organization | UNRWA |
| OPEC Fund Contribution (US$m) | 2.50 |
The PALFund is a revolving fund that was created in 2002, it aims to support the Palestine private sector through a micro-credit financing scheme which involves extending small loans to productive and qualified micro-entrepreneurs and artisans through job creating and income growth in Gaza and the West Bank. The first allocation of US$2.50 million was disbursed in 2004 and was replenished in three occasions to reach the accumulated amount of US$10.00 million over the duration of five years (2004-2009) and has been administered by UNRWA. (see in addition PA103, PA222).