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West Bank, Gaza still suffers from a difficult economic environment and an uncertain outlook with high unemployment and deteriorating social conditions. Long-lasting conflict, instability, and restriction on movements remain key challenges. Financial inclusion – an important factor for economies to weather shocks and support recovery – is low.

Digital financial services are still in their infancy in the West Bank and Gaza. Backed by the necessary regulatory advances, such services could become an important tool to increase the level and depth of access to financial services for Palestinians. Financial sector actors would benefit from the creation of a robust ecosystem for DFS that ...

That self-reliance is a long-term goal of officials in the West Bank and Gaza. Between them, the enclaves have a single, hobbled power plant. That, combined with fuel shortages and aging power lines, has led to widespread blackouts. The effect of power cuts is especially dire in Gaza, where the United Nations has warned of “disastrous ...

AND GAZA TRADE OPENS DOORS In West Bank and Gaza, persistent conflict and the lack of a local currency makes doing business even more challenging. That’s why IFC’s trade finance program with the Bank of Palestine is so critical in a territory where unemployment is nearly 30 percent. Trade finance opens doors to increased investment in financial

As The Largest Global Development Institution Focused On The Private Sector, Ifc Operates In More Than 100 Countries.

Bank of Palestine is working closely with IFC to meet several priority needs in the West Bank and Gaza, beginning with the offering of combined investment and advisory products. Over the past year, IFC’s Advisory Services team in MENA has been working hand-in-hand with the bank’s management to help it create a solid risk management system ...

• KYC in the West Bank and Gaza is controlled by the AML Law and the Palestine Monetary Authority Law #2 of 1997. The PA has a very effective supervision and regulatory compliance function for financial institutions and non-financial businesses and professions (DNFBPs)1 • The AML law was decreed by the president in 2007 which was developed

The $70 million IFC-Netherlands partnership includes a dedicated $22 million blended finance facility, Alafaq Aljadida (New Horizons), to help reduce the risk profile of projects with high development impact in the MENA region. The blended concessional finance investment component aims to catalyze private sector investments in potentially high ...

The Infrastructure Development Collaboration Partnership Fund (DevCo) is a multi-donor facility managed by IFC. DevCo is part of the Private Infrastructure Development Group (PIDG), and receives funding from the Ministry of Foreign Affairs of the Netherlands (DGIS), the Swedish International Development Cooperation Agency (Sida), and the UK Department for International Development (DFID).

Entrepreneurship. Women play a critical role in the global economy as entrepreneurs. They help create jobs, generate income, and boost revenue—driving economies while reducing inequalities between women and men. In many emerging economies, women are starting businesses at a faster rate than men, significantly contributing to the economic growth.