Ramallah, The Palestinian Ministry of Labor – January 20, 2025
A key partnership for inclusive economic development in Palestine. The agreement between Oxfam and the Palestinian Employment Fund (PEF) within the framework of the IBTKAR for Social Change project (implemented by Oxfam in Jerusalem and COSPE) and Start-Up Palestine (managed by PEF) strengthens access to finance for small agricultural businesses and cooperatives in the West Bank and Gaza.
Key highlights:
- $1.5 million USD allocated by PEF to ACAD Finance and Reef Finance through the Italian credit line of Start-Up Palestine
- Interest-free loans (0% interest rate) for over 200 small businesses and agricultural cooperatives
- Promotion of social and solidarity economy and inclusive financial solutions
This initiative, funded by Agenzia Italiana per la Cooperazione allo Sviluppo (AICS Jerusalem), highlights the synergy between two AICS-supported projects, demonstrating the added value of coordinated efforts in economic development. AICS welcomes this collaboration as an important step in enhancing financial inclusion and resilience, reinforcing its commitment to sustainable growth in Palestine.
The IBTKAR project is implemented by Oxfam Italia in partnership with COSPE, with the support of ACAD, ACAD Finance, Reef Finance, Banca Etica, Provincia Autonoma di Bolzano, and Oxfam Novib.
The signing of this renewed partnership took place at the Palestinian Ministry of Labor, with the participation of H.E. Enas Attari, Minister of Labor and Chairwoman of the PEF, the Head of AICS Jerusalem Office, Mirko Tricoli, and representatives of various financial and civil society institutions.
