Bethlehem / PNN /
The European Union (EU) Delegation in Palestine, in cooperation with the Bethlehem Chamber of Commerce and Industry, organized an awareness event on European funding programs and instruments. The event aimed to introduce representatives of the Palestinian private sector to the financing opportunities offered by global and European programs through Palestinian banks.
The event brought together EU representatives, members of both the public and private sectors, Palestinian industrial unions, as well as Palestinian banks and private sector company owners.
Dr. Hazboon: The Meeting Aims to Contribute to Improving Bethlehem’s Challenging Economic Situation
At the beginning of the meeting, Dr. Samir Hazboon, President of the Bethlehem Chamber of Commerce, welcomed the attendees on behalf of himself and the Chamber members. Participants included representatives from various ministries—most notably the Ministries of Industry and Economy—the European Union, Palestinian banks, as well as owners of Palestinian companies and factories.
Dr. Hazboon explained that the meeting aimed to introduce European funding instruments designed to support small and medium-sized enterprises through accessible and simplified financing programs. He expressed hope that the day’s activities would be fruitful in collaboration with European institutions, with the presence of EU representatives, and members of both the Palestinian public and private sectors.
He emphasized that the participation of deputy ministers from the Ministries of Industry and Economy, representatives of governmental institutions, industrial unions, chambers of commerce, the Federation of Palestinian Industries, the Palestinian Monetary Authority, banks, and financing institutions represents a valuable opportunity to strengthen collective cooperation in ways that serve the Palestinian economy and society, enhancing resilience under current conditions.
Dr. Hazboon also thanked the EU and Chamber teams for their cooperation and expressed hope that the event would provide an opportunity to exchange expertise and showcase opportunities, contributing to the sustainability of the Palestinian economy and its ability to face crises and challenges. He noted the existence of 123 checkpoints and gates at the entrances to Bethlehem’s cities, villages, and camps, which hinder economic activity, and called on the European Union to assist Bethlehem in ending the imposed restrictions that cut off internal and external connectivity, negatively affecting tourism and all economic and commercial sectors.
Dr. Hazboon also stated that the event provided a unique opportunity for EU representatives, Palestinian banks, the Monetary Authority, industrial unions, and government ministries to engage openly and transparently, fostering a collaborative approach to strengthening the Palestinian economy. He emphasized that the participation of Palestinian banks was particularly important, as they have received financing through European banks and funding programs, allowing them to share detailed insights. He praised the efforts and contributions of the banks operating in Bethlehem.
He further highlighted the importance of leveraging initiatives such as the Economic Resilience Enhancement Conference and stressed the need for continued cooperation with the European Union, underscoring that Bethlehem requires significant support to revive its challenging economic situation.
Ministry of Economy: Working with All Stakeholders to Strengthen the Sustainability of the Palestinian Economy
Nahed Qudsi, Head of the Palestinian Ministry of National Economy’s Cabinet, highlighted the significance of the day’s meeting, expressing his gratitude to the European Union and European development and reconstruction banks for their various financing programs. He also thanked the Bethlehem Chamber of Commerce, the Ministry of Industry, Palestinian financial institutions, and industrial unions, expressing hope that European funding tools would be transformed into opportunities to strengthen the private sector, which the Ministry of Economy aims to develop.
Qudsi noted that the Palestinian economy is facing one of its most difficult periods due to Israeli occupation practices. He pointed out that Bethlehem is a vital economic and cultural hub and an important source of tourism revenue. However, the sector—and the broader local economy—has suffered due to political instability and Israeli military operations against the Palestinian people.
He emphasized that the Ministry is focusing on promoting sustainability programs, highlighting ongoing cooperation with the European Union across multiple sectors to revitalize economic activities, improve the business environment, facilitate company registration, and implement competition and e-commerce laws to encourage investment.
Qudsi expressed hope that the event would help bridge gaps between financial institutions and businesses, particularly small and medium enterprises, enabling them to explore opportunities through EU sustainability and support programs. He stressed that the Ministry is simultaneously developing collaborative programs between the public and private sectors, calling for a strategic dialogue among all stakeholders, especially Palestinian public and private institutions.
He also called on the European Union to expand support programs and urged Palestinian banks to enhance and facilitate funding initiatives for local enterprises. Qudsi extended his gratitude for European support programs that empower diverse economic sectors, including tourism, industry, and agriculture.
Meanwhile, Samhan emphasized the aim of reaching understandings during the meeting on multiple issues that serve to strengthen Palestinian industry.
Ministry of Industry and European Union: Supporting Palestinian Private Sector and Economic Recovery
Zaghloul Samhan, Undersecretary of the Ministry of Industry, thanked the attendees and organizers of the meeting, emphasizing the importance of discussing financing tools. He highlighted that access to funding is a key concern for the private sector, particularly for small and medium-sized enterprises. He also expressed gratitude to the European Union for providing financial platforms that enable Palestinian businesses to benefit from European funding programs, opening opportunities for the development of various projects.
Samhan stressed that the Ministry of Industry aims to reach agreements during the meeting on several key issues, including unifying efforts and providing financing platforms for the private sector. He underscored the Ministry’s commitment to working with government partners, the private sector, and unions to remove obstacles facing private enterprises, particularly in licensing, monitoring, and creating a legal and supportive environment. He cited measures such as protecting national products through mandatory national procurement policies as part of this effort.
He described the day’s event as a valuable opportunity to explore existing opportunities and facilitate private sector access to financing tools, reiterating his thanks to the European Union and expressing hope for the expansion and enhancement of support in both quantity and quality.
European Union: Working to Revive the Palestinian Economy
Mario Giuseppe Farneti, Head of the Cooperation Section at the European Union, expressed his pleasure at being in Bethlehem, a city rich in history. He thanked the Chamber of Commerce for organizing the first event in a series of EU-led initiatives across Palestinian governorates aimed at raising awareness about European financing tools. He also expressed appreciation for the participation of the Ministries of Industry and Economy, financial institutions, and the private sector, noting that such strong attendance reflects the Palestinian community’s interest in European funding during a critical period for the Palestinian economy, following two years of conflict.
Farneti expressed hope that the EU’s efforts will contribute to economic recovery and reconstruction by promoting available funding and support opportunities. He emphasized the EU’s belief in the importance of the private sector in building a resilient Palestinian national economy, noting that in recent years, the EU has provided hundreds of millions of dollars to support the Palestinian economy.
EU Officials and Palestinian Industry Unions Highlight Support for Economic Resilience
Mario Giuseppe Farneti, Head of the Cooperation Section at the European Union, expressed pride in supporting small projects through EU funding programs over the past five years. He emphasized the ongoing need for further work to strengthen the Palestinian economy and make it resilient.
He stated, “To achieve this, the European Union has decided to organize events to open opportunities for the private sector and financial institutions to learn about our programs, fostering cooperation and awareness of EU funding initiatives.” Farneti added, “We decided to start in Bethlehem due to its unique circumstances, and we will soon conduct similar events in Jericho, Hebron, and Jenin, with a commitment to working in Gaza once the situation stabilizes.”
He confirmed that the purpose of these meetings is to pave the way for financing deals by introducing the funding opportunities provided by the EU, which are expected to contribute to strengthening the Palestinian economy.
Explanation of European Funding Mechanisms
Metya Goor Guenbour, Head of the Economic Development Policy Section at the EU Representative Office in Palestine, provided a detailed presentation on the EU’s economic policies and its cooperation with international and European banks to support the Palestinian economy. He highlighted that the EU has provided approximately €173 million through European banks and over €900 million through international institutions.
Guenbour explained the mechanisms of financing, guarantees, and support for both public and private sectors, detailing the technical aspects of projects eligible for funding, loan structures, facilitation rates, and required guarantees. He also emphasized the cooperation with the Palestinian Monetary Authority and local banks in implementing these programs.
Industry Unions and Chambers of Commerce Discuss Efforts to Strengthen the Economy
Suha Awadallah, Secretary-General of the Federation of Palestinian Industries, expressed appreciation for the organization of the event and thanked the European Union for its support, while also recognizing the role of the Chamber of Commerce and government ministries. She emphasized the importance of informing stakeholders in Gaza about European funding opportunities in the upcoming phase.
Awadallah highlighted the importance of data and statistics to understand the needs of the sector through an industrial registry that provides insights into the economic reality, challenges, and available opportunities.
She noted that the Federation has developed statistics, programs, and plans to assist the private sector, detailing the Federation’s activities and achievements over recent years to contribute effectively to strengthening and developing Palestinian industries.
Palestinian Chambers and Monetary Authority Highlight Efforts to Strengthen the Economy
Jamal Al-Jawabreh, Secretary-General of the Union of Chambers of Commerce, spoke about the economic reality across various Palestinian governorates and the challenges facing the economy, as well as the obstacles hindering the development of multiple sectors.
Al-Jawabreh highlighted the economic needs required to develop different sectors, including the shortage of services, the need to diversify the economy, and the importance of promoting economic services while developing marginalized groups, particularly women and youth. He noted that the Union of Chambers of Commerce has signed agreements with donor organizations to help strengthen the economy. Additionally, the Union has launched an electronic platform to promote local products and signed agreements with banks to facilitate financing for industries.
Monetary Authority: Supporting the Economy through Banks and EU Funding Cooperation
Mahamoud Barhoum, a member of the Palestinian Monetary Authority Council, discussed the Authority’s efforts to support the Palestinian economy across various sectors. He highlighted the “Sustainability” program, which was launched during the COVID-19 pandemic and restructured two years later to support micro, small, and medium enterprises, focusing on educational and healthcare sectors and digital transformation, continuing to the present day.
Barhoum also presented the “My Projects” program, which includes consulting, training, and financing, noting the complementarity between the Sustainability and My Projects programs. Together, they have financed around 5,000 projects totaling $250 million. He mentioned the “Bader” program for workers, aimed at creating projects and facilitating access to support. Barhoum expressed hope that the meeting would lead to providing small businesses with financing, training, and legal consultancy that could benefit from EU funding programs and loans. He emphasized that banks are ready to provide guidance on the Sustainability and My Projects programs and the associated financing mechanisms.
Open and Transparent Discussion
At the end of the meeting, an open discussion was held, where representatives from various unions and private sector companies shared their experiences, working conditions, and lack of sufficient information about funding programs and their requirements. Representatives from the EU’s Economic Development Policy Section responded to many of these questions, providing clarification and guidance.
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