The demand for micro-loans has risen steeply in the West Bank and Gaza Strip in recent years, according to data from the Palestinian Network for Small and Microfinance (Sharakeh), which represents 11 microfinance non-profit institutions whose total loan portfolio was $75 million by the end of 2011.
Between 2007 and 2011, the number of active microloans in the West Bank and Gaza Strip rose from 20,000 to more than 43,000.
This trend is likely to continue, said Sharakeh, predicting that by 2015 the number of loans will reach 77,000. The number of active clients receiving loans from microfinance institutions has grown by an average of 27 percent annually since 2007, he added.
- RAMALLAH (IRIN)
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