The European Investment Bank (EIB) extended a $50 million line of credit to Bank of Palestine to support the resilience of the Palestinian private sector through on-lending to local SMEs, as part of Team Europe’s overall response to the Covid-19 crisis.

Through a network of 23 branches and 63 active agents across the country, FINCA Malawi serves more than 70,000 clients offering individual and group loans, savings and insurance products specifically designed for low-income entrepreneurs.

This was a top-up loan of $4 million to support microfinance sector during challenging environment brought about by COVID-19 crisis.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.