25 July 2019 – New meeting of the Advisory Committee of the project START-UP, a credit line by 20 MLN EUR funded by the Italian Agency for Development Cooperation in Jerusalem for Palestinian small and micro enterprises. Along with the approval of the 2nd installment of the budget support to the Palestinian Fund, 4 new economic development initiatives for Palestinian start-ups have been approved by the Board, thanks to the revenues generated from the loans of the first tranche of the credit line, for a total amount of 700,000 USD.
With a dedicated focus on the creation of job opportunities, these 4 projects will target specific beneficiaries (i.e. businesswomen or small farmers) offering loans at zero interest. Worth mentioning is the Jerusalem Youth Initiative, under which young Palestinian entrepreneurs in East Jerusalem will be trained and supported to develop their own creative business.