European Institutions To Invest $85M in Palestinian Economic Development

The Palestinian Authority and European institutions, meeting in the West Bank city of Ramallah on the sidelines of the European Union-Palestine Business Forum, signed investment and financing agreements Wednesday worth €80.65 million ($84.83 million) to promote economic development in the Palestinian territories. One of the agreements is a €30.5 million ($32.08 million) financing deal between the EU and the Palestinian government to enhance growth by supporting private-sector projects. In addition, the European Bank for Reconstruction and Development, as well as Dutch, French, and Italian financial institutions signed loan agreements totaling €50.15 million ($52.75 million) to support Palestinian startups, employment, and economic growth. The forum was attended by Palestinian and European business leaders, bankers, investors, and government representatives, including PA Prime Minister Mohammad Shtayyeh.