Middle East Economic Survey

VOL. LI

No 31

04-Aug-2008

Palestine

IFC To Invest $15Mn In The Bank of Palestine

The International Finance Corporation (IFC), a member of the World Bank Group, on 28 July announced that it will invest $15mn in buying a 5% share in the Bank of Palestine. The investment includes a $3mn trade line for the bank through the IFC Global Trade Finance Program. The IFC seeks to broaden and deepen financial intermediation and help develop the private sector in the West Bank and...