Ramallah:

Mahdi Hamdan, Executive Director of the Fund, discussed ways to enhance joint cooperation with His Excellency Minister Azzam Al-Shawwa, Governor of the Monetary Authority.

Tuesday, during the meeting that took place at the seat of the Monetary Authority in Ramallah, Hamdan briefed Al-Shawwa Minister on the achievements of PFESP and its work and the projects that it is implementing and intended to be implemented during the next stage. They are concerned with providing concessional loans to entrepreneurs and graduates who wish to establish developmental projects.

Hamdan confirmed to Al-Shawwa Minister the Fund’s desire to cooperate with the Monetary Authority. This is to expand and facilitate the work in a manner that ensures the widest benefit of the youth from development projects by providing a series of related facilities.

Hamdan said that PFESP really in need of the help and expertise of the Monetary Authority, which has sufficient global experience in this field.

Hamdan stressed the role of the Monetary Authority in strengthening the relationship between PFESP and national banks. He indicates that PFESP looks forward to promoting cooperation and opening wider business horizons with national banks modelled on its agreement with the Bank of Palestine for the implementation of "Your Project" program. It has contributed so far to granting dozens of financial loans needed to establish development projects for those willing to establish projects.

For his part, Al-Shawwa praised the Fund's national and leadership role in implementing operational and developmental projects for the benefit of different segments of society, especially youth and graduates.

Al-Shawwa promised to provide all necessary support by the Monetary Authority to PFESP to enhance its role and position. This will facilitate opening a wider relationship with the network of national banks and banks.

Al-Shawwa emphasized that the country desperately needs such institutions that work to serve the citizens and the unemployed. This is by providing concessional loans that contribute to alleviating the high unemployment rate.