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- Issue 174 March 2021
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The Negev and Galilee Loan Guarantee Project
Financial support for loan guarantees and technical assistance to small businesses in the poorer parts of southern and northern Israel.
In 2009, Koret Israel Economic Development Funds (KIEDF) secured a $10m second-loss bank guarantee from OPIC to leverage nearly $150m of bank financing over 7 years. The project was launched in January 2010, enabling small and medium sized businesses in Israel’s Negev and Galilee regions to apply for loans from $12,500 to $300,000. As of the end of August 2017, Koret had granted 1,416 loans (760 in the Galilee and 656 in the Negev) with a value of around $117million.