Palestinian President Installs New Leaders for National Investment Fund

Palestinian President Mahmoud Abbas has appointed a new board of directors to the Palestine Investment Fund, the Palestinian news agency WAFA announced in a statement on Monday. The newly formed board includes prominent figures such as Eyad Judah, Maher al-Masri, Mohammad Nasr, Tamer Bazzari, Atef Allawneh, Mohammad Abu Ramadan, Ali Abu Diyak, Lena Abu Hajleh, and Firas Malham.

The Palestine Investment Fund, established in 2003 and registered as a public shareholding company under the Ministry of National Economy, aims to bolster the Palestinian economy through investments across a variety of sectors. These include energy, healthcare, telecommunications, digital economy, industry, trade, agriculture, real estate, and tourism. The fund’s creation involved transferring assets previously managed by the Palestinian Authority, enhancing its capacity to stimulate economic growth.

Mohammad Mustafa, who led the fund as chairman since January 2009, recently transitioned to a new role as the Palestinian prime minister on March 14, leaving the fund’s leadership to the new appointees.

This strategic reshuffle in the fund’s leadership comes at a time when the Palestinian economy faces numerous challenges, from political instability to restricted access to resources. The new board is expected to drive forward initiatives that can invigorate economic sectors and support sustainable development within the Palestinian territories.