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Since the very beginning PBC has realized the importance of extending credit to export oriented projects to accelerate economic development in Palestine and to provide a presence for Palestinian private sector companies in international markets. At the same time, it gives special attention to encourage the transfer of technology and know how from developed countries to Palestine by extending credit to finance the import of technology and know how. PBC has designed special programs and is now in its final stage of negotiating two trade-financing agreements. Under these agreements PBC will be running the following trade finance programs:
- Arab Trade Finance Program
The Arab Trade Financing Program (ATFP) is a specialized financial institution, established by the Board of Governors of the Arab Monetary Fund (AMF). Its objective is to develop and promote trade among Arab countries and enhance the competitive ability of Arab exporters. This is achieved by providing refinancing in the form of lines of credit, to Arab exporters and importers, through national agencies appointed by monetary authorities in the Arab countries.
ATFP assists Arab firms in their export activities by providing their buyers in the Arab world with internationally competitive financing packages. In doing so, ATFP strengthens the position of competitive Arab firms vis a vis other competitors operating in the Arab markets.
In its endeavor to enhance the completive ability of the Arab exporters, ATFP has been undertaking the establishment of an Intra-Arab Trade Information Network (IATIN), with the financial support of the United Nations development Program (UNDP) and the technical cooperation of the international Trade Center (ITC). ATFP has been mandated by the Arab Economic and Social Council, of the Arab League, to implement and administer the Network on a regional basis for the benefit of all Arab countries.
- Italian Commodity AID Program
The Italian Government undertook to provide US$ 25 million to support the development of small and medium sized manufacturing enterprises in the private sector in order to improve the quality and productivity of products and competitiveness of these firms. The purpose of these improvements is to increase exports, create jobs, and income in the private sector. This will be achieved through the establishment of a “revolving” on lending scheme of the Italian funds to finance imports of Italian goods and services including technical assistance, installation costs, training and support services, etc.
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