The Economic Empowerment Fund for Palestinian People (EEFPP)
A new fund set up by IsDB will assist more than 300,000 Palestinian families over the next decade
The EEFPP is expected to fulfil its mandate through the following modes of intervention:
- Establishment of economic empowerment financial institutions in Palestine
- Provision of lines of financing (LoF) to local banks and FIs to be leveraged to finance economic empowerment projects in Palestine
- Equity participation in FIs and high-impact private sector companies and businesses
- Provision of LoF to the economic empowerment programmes and projects
- Capacity development, research, technical studies, M&E
- Short-term investments
- Investing in other funds or vehicles serving the mandate of the EEFPP.
The EEFPP will work in full partnership with the private sector as well as financial and non-financial institutions in Palestine and will coordinate with relevant government bodies such as the Palestinian Monetary Authority (PMA), the Palestinian Investment Promotion Authority (PIPA), the Palestinian Capital Market Authority (PCMA), and the Ministry of Economy and Social Development.
IsDB set up the Fund with an initial target capital of US$ 500 million and will contribute a further US$ 100 million. It is hoped that the Fund will help empower more than 300,000 Palestinian families in the next decade
"IsDB set up the Fund with an initial target capital of US$ 500 million and will contribute a further US$ 100 million. It is hoped that the Fund will help empower more than 300,000 Palestinian families in the next decade"