Our Partners
PALESTINE
Palestine is physically divided between the West Bank and Gaza Strip and under constant siege as a result of its ongoing conflict with Israel. With a total population of approximately 4.1 million, Palestine suffers from unemployment that hovers near 50%, with 60 to 70% of its population below the national poverty line. In Gaza, the problem is particularly acute: even before the most recent military offensive by Israel, approximately 80% of Gaza`s population lived below the poverty line and more than 55% required food aid. That number has likely increased significantly since the conflict.
Various surveys estimate that microfinance demand extends to 150,000 households, with a need for close to US $200 million in loan capital. Of this demand, less than 20% is being met among the nine microfinance institutions (MFIs) serving Palestine. Currently, regulatory issues, industry capacity and technology gaps, along with current political instability, are all hampering industry growth. However, with strategically placed support, the industry has the potential to meet capacity needs throughout Palestine.
Palestinian Agricultural Relief Committees (PARC)
Palestinian Agricultural Relief Committees (PARC): PARC was founded in 1983 as an NGO focusing on integrated rural development, including technical assistance to farmers, the creation and support of rural savings and credit groups, and other activities to assist the agricultural sector. In 2000, it formed a union of its credit and savings cooperatives and formalized its procedures and regulations for borrowing and saving. As of year-end 2008, there are 12 cooperative associations consisting of 7,383 members with total savings and shares of $2,638,035. Gross outstanding portfolio totals $3,119,313. Collectively, PARC’s members form the second largest MFI in Palestine and are split among both the West Bank and Gaza Strip.
PARC offers the only opportunity for savings mobilization for Palestinians who lack access to commercial banks, and it is the first women-led cooperative movement in Palestine. Formed during the political turbulence of the second Intifada, it has grown and flourished despite ongoing political strife in both the West Bank and Gaza Strip. The union’s mission is to improve the organizational capabilities and enhance the financial resources of the savings and credit coops.
Although Grameen-Jameel began a formal partnership with PARC in December 2008, it has supported PARC’s work since 2005, helping PARC develop a business plan to reach 50,000 members, providing scholarships to attend regional microfinance conferences, and supporting PARC attendance at the Grameen Dialogue in Bangladesh. Most recently, Grameen-Jameel coordinated a six-month on-site consultancy to help PARC build its operational capacity that began in December 2008.