Palestinian Territories: SANAD Partners With The National Bank to Support MSMEs and Low-Income Households
The SANAD Fund for MSME (SANAD) has granted a senior loan of $5 million to The National Bank (TNB), marking the fund’s first banking sector investment in the Palestinian Territories. The main goal of the loan is to support TNB’s lending to micro, small and medium enterprises (MSMEs) as well as to low-income households for home improvement and purchase.
The third largest bank in the Palestinian Territories, TNB is solely focused on the West Bank and East Jerusalem areas. In recent years, TNB has transformed itself from a small microfinance bank into a full-service commercial bank. TNB is one of only two banks in the Palestinian Territories offering micro loans and has developed specialized products and programs for these underserved clients. In addition to general microfinance lending, TNB also specifically offers micro loans to women entrepreneurs and homeowners. The bank plans to increase its focus on the empowerment of youth through the development of new products.