Home Archive 21/April/2020 06:16 PM

Economy Minister, AFD conclude $1 million agreement to support small, micro enterprises

 

RAMALLAH, Tuesday, April 21, 2020 (WAFA) – National Economy Minister Khaled al-Osaily and the French Development Agency (AFD) today concluded a $1 million agreement to support small and micro enterprises.

Al-Osaily, who held a meeting with the working group of donor countries concerned with the private sector development via video conferencing from Ramallah, concluded an agreement with AFD to transfer $1 million in support of the small and micro enterprises impacted by the novel coronavirus crisis.

He and the World Bank concluded an agreement to transfer half a million in support of a project concerned with supporting enterprises affected by the economic crisis induced by the novel coronavirus outbreak.

Al-Osaili stressed the importance that donors increase their financial support to implement the Ministry of National Economy’s plan and ensure emergency response to the private sector’s needs and urged the working group of the donor countries to redirect the resources of current programs to support micro-, small and medium-sized enterprises (MSMEs).

The ministry presented the plan it prepared in cooperation with the United Nations Industrial Development Organization (UNIDO) detailing the impact of novel coronavirus on the Palestinian economy along with the necessary emergency responses to support the most impacted economic sectors.

The donor countries showed their interest in the set of proposals that were discussed, and pledged to take them into consideration to reinforce the ministry’s efforts designed to support the private sector.

K.F.

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