RAMALLAH, February 12, 2025 (WAFA) – The German Government announced Wednesday the launching of a new €10 million program to stimulate the Palestinian economy.

The German government signed the agreement at the premises of the Ministry of Planning and International Cooperation (MoPIC) in the West Bank city of Ramallah in the presence of Minister Wael Zaqut and Niels Annen, Parliamentary State Secretary to the German Federal Minister for Economic Cooperation and Development.

Launched in partnership with the MoPIC and the European Palestinian Credit Guarantee Foundation (EPCGF) through KfW Development Bank, the program is a part of a package of credit guarantee programs managed by the EPCGF across the occupied Palestinian territories, according to a press statement by the MoPIC.

The Ministry noted that the program was anticipated to contribute to facilitating access to approx. €50 million through the EPCGF for the benefit of about 1,400 enterprises, creating about 10,500 employment opportunities over the next four years.

The program was launched as part of the efforts to support small and medium enterprises (SMEs) and foster economic development in Palestine by offering credit guarantees that contribute to the creation of employment opportunities and the stimulation of local investment.

It focuses on a set of core areas, including job creation, green financing, supporting women-led enterprises, youth empowerment and not only supporting small and micro enterprises but also the sectors and geographic areas that are affected by exacerbating economic challenges.

K.F.