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The Portland Trust is committed to promoting peace and stability between Palestinians and Israelis through economic development.

Galilee loan guarantee programme

The Portland Trust partnered with the Koret Israel Economic Development Fund (KIEDF) and the United Jewish Israel Appeal (UJIA) in a three-year initiative, starting in 2006, to establish a loan guarantee programme for Northern Israel. The aim was to facilitate economic development and job creation. Small businesses and micro-enterprises lacking access to credit on reasonable terms were the target of the programme.

In July 2007, Eival Gilady became the Chair of KIEDF. The Portland Trust contributed $500,000 to this programme which has since attracted significant additional funding. Over the three-year period 610 loans were made, totalling $15m (NIS 57m).
Approximately 3,200 jobs were created across a range of sectors including tourism and manufacturing.

By March 2009, 610 loans had been made totalling $15 million/ NIS 57 million. For a full report on the scheme please click here.

For more information on the Koret Israel Economic Development Funds (KIEDF), please visit their website or see their latest video on YouTube.