IFC, the Bank of Palestine, and the Palestine Education Fund, have agreed to introduce the first student loan program in the West Bank and Gaza. This will support the education of university students and help reduce financial burdens on students and their families.
The Bank of Palestine will fund and administer the loans and manage the overall program. The Palestine Education Fund will cover costs during studies and for up to a year after graduation, and IFC will structure the deal to reduce risk. The student loan facility will disburse up to $10 million in loans to support about 8,000 students a year. The tenor of the loans will be eight to nine years.
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For more information contact:
Ludi Joseph
Phone: +1 (202) 473-7700
E-mail: LJoseph@ifc.org
Published on June 24, 2008
