To broaden the credit access in an underserved small and medium enterprises (SME) market because of lack or insufficient collateral and to enable SMEs to either survive, regain some lost capacity, job retention, recreation or creation.
As EPCGF currently does not have a legal status, the last step to complete the success story has been initiated. EPCGF’s incorporation is expected to be established within the next 6 months. The involved parties agreed on incorporation of EPCGF as a Foundation located in Luxembourg.
Some of the key factors of success:
- high flexibility and confidence of co-financiers and Palestinian beneficiary allowed changes during implementation according to the needs
- professional excellence of the international project director with high social and cultural competencies
- professional excellence and stability of local EPCGF manager and staff
- selection and establishment of partnership agreements with local banks
- excellent relationships with local banks, management and working procedures and maintenance of an effective and trustful cooperation
- comprehensive training of EPCGF staff and accompanying training of bank staff