(22 Jun 2021) LEAD IN:
The European investment Bank has agreed to give loans the Palestinian private sector, including some aimed at small and medium-sized companies affected by the coronavirus.
The loans are meant to help encourage investment and revive the Palestinian economy.

STORY-LINE:
After signing a deal approving loans to the Palestinian private sector, European Union Representative Sven Kuhn von Burgsdorff said on Tuesday that the move marks “a major achievement”.
He spoke from the West Bank city of Ramallah after seven agreements were signed, approving loans worth $425 million.
“It’s a sign of hope, a sign of trust” that the private sector can support “economic growth and recovery in the occupied Palestinian territory,” von Burgsdorff said.
Some of the money will go to small and medium-sized companies affected by the coronavirus.  
Palestinian Prime Minister Mohammad Shtayyeh said he hopes the loans will “really inject liquidity in the Palestinian banking sector that will reflect itself to the different economic players.”
Shtayyeh said the Palestinian economy faced a double challenge during the pandemic.
“We had double viruses, one (is) the occupation, and the other (is) corona(virus), and we are fighting both,” Shtayyeh said.
Representatives from the European Investment Bank, the European Union, the Palestinian Authority and several Palestinian financial institutions took part in the signing ceremony.
The World Bank estimates the Palestinian economy shrank by 11.5% in 2020, with tourism and restaurant sectors hit particularly hard.
Unemployment in the West Bank spiked to 15% this year, and about 1.4 million Palestinians are living in poverty, it said earlier this year.

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#European #Investment #Bank #loans #West #Bank
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(22 Jun 2021) LEAD IN:
The European investment Bank has agreed to give loans the Palestinian private sector, including some aimed at small and medium-sized companies affected by the coronavirus.
The loans are meant to help encourage investment and revive the Palestinian economy.

STORY-LINE:
After signing a deal approving loans to the Palestinian private sector, European Union Representative Sven Kuhn von Burgsdorff said on Tuesday that the move marks “a major achievement”.
He spoke from the West Bank city of Ramallah after seven agreements were signed, approving loans worth $425 million.
“It’s a sign of hope, a sign of trust” that the private sector can support “economic growth and recovery in the occupied Palestinian territory,” von Burgsdorff said.
Some of the money will go to small and medium-sized companies affected by the coronavirus.  
Palestinian Prime Minister Mohammad Shtayyeh said he hopes the loans will “really inject liquidity in the Palestinian banking sector that will reflect itself to the different economic players.”
Shtayyeh said the Palestinian economy faced a double challenge during the pandemic.
“We had double viruses, one (is) the occupation, and the other (is) corona(virus), and we are fighting both,” Shtayyeh said.
Representatives from the European Investment Bank, the European Union, the Palestinian Authority and several Palestinian financial institutions took part in the signing ceremony.
The World Bank estimates the Palestinian economy shrank by 11.5% in 2020, with tourism and restaurant sectors hit particularly hard.
Unemployment in the West Bank spiked to 15% this year, and about 1.4 million Palestinians are living in poverty, it said earlier this year.

Find out more about AP Archive:
Twitter:
Facebook: ​​
Instagram:

You can license this story through AP Archive:

#European #Investment #Bank #loans #West #Bank
==================

(22 Jun 2021) LEAD IN:
The European investment Bank has agreed to give loans the Palestinian private sector, including some aimed at small and medium-sized companies affected by the coronavirus.
The loans are meant to help encourage investment and revive the Palestinian economy.

STORY-LINE:
After signing a deal approving loans to the Palestinian private sector, European Union Representative Sven Kuhn von Burgsdorff said on Tuesday that the move marks “a major achievement”.
He spoke from the West Bank city of Ramallah after seven agreements were signed, approving loans worth $425 million.
“It’s a sign of hope, a sign of trust” that the private sector can support “economic growth and recovery in the occupied Palestinian territory,” von Burgsdorff said.
Some of the money will go to small and medium-sized companies affected by the coronavirus.  
Palestinian Prime Minister Mohammad Shtayyeh said he hopes the loans will “really inject liquidity in the Palestinian banking sector that will reflect itself to the different economic players.”
Shtayyeh said the Palestinian economy faced a double challenge during the pandemic.
“We had double viruses, one (is) the occupation, and the other (is) corona(virus), and we are fighting both,” Shtayyeh said.
Representatives from the European Investment Bank, the European Union, the Palestinian Authority and several Palestinian financial institutions took part in the signing ceremony.
The World Bank estimates the Palestinian economy shrank by 11.5% in 2020, with tourism and restaurant sectors hit particularly hard.
Unemployment in the West Bank spiked to 15% this year, and about 1.4 million Palestinians are living in poverty, it said earlier this year.

Find out more about AP Archive:
Twitter:
Facebook: ​​
Instagram:

You can license this story through AP Archive:

#European #Investment #Bank #loans #West #Bank

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