Jerusalem | The United Nations Office for Project Services (UNOPS) Director Mr. Tokumitsu Kobayashi, and the Islamic Development Bank (IsDB) President Dr Bandar M. H. Hajjar, signed an agreement amounting to USD 1,000,000 to support the implementation and Capacity Development of the Economic Empowerment Fund of the Palestinian People Program (EEFPP).
As the Administrator of the EEFPP, the IsDB aims at providing through this important collaboration, the necessary support to institutionalize EEFPP’s strategic and operating models and gathering all its key partners under one umbrella. This will be done by developing the required infrastructure including strategic plans and operating manuals to develop its activities and ensure its financial sustainability.
Dr. Bandar Hajjar, President of the IsDB, said: “We are delighted to be collaborating with UNOPS to implement the Economic Empowerment Fund for the Palestinian People, a Fund which aims to empower economically over 1.5 million Palestinians over the next decade. The UNOPS has significant expertise in delivering these programmes and we’re looking forward to developing a long and fruitful relationship with them.”
The program consists of two main components, Capacity Development of the Economic Empowerment Fund of the Palestinian People (EEFPP) and Capacity Development of a Palestinian National Economic Empowerment Institution (PNEEI).
The key activities in this program will include conducting market feasibility studies, economic and sectoral studies as well as designing the operating model, products and developing a detailed business plan for the targeted entity.
UNOPS will be responsible for the administrative support of the project including managing Human Resources and Procurement in compliance with UNOPS rules, procedures and management best practices.
‘We are pleased that the IsDB in Palestine trusts our wealth of experience in this area of service to contribute to the efficient implementation of the project financed by IsDB,’ said UNOPS Director Mr. Tokumitsu Kobayashi
UNOPS mission is to help people build better lives and countries achieve peace and sustainable development. We help the United Nations, governments, and other partners to manage projects and deliver sustainable infrastructure and procurement in an efficient way. Read more: www.unops.org
About the Islamic Development Bank (IsDB) in Palestine
The Islamic Development Bank is a Multilateral Development Bank (MDB), working to improve the lives of those it serves by promoting Social and Economic Development in the 57 Member Countries and Muslim communities worldwide, delivering impact at scale. The IsDB provides the necessary infrastructure to enable people to lead better lives and achieve their full potential. The IsDB successfully positioned itself as the global leader in Islamic finance, providing long term sustainable and ethical financing structures to underpin its investment projects. Read more: www.isdb.org
About EEFPP Program: The EEFPP aspires to economically empower more than 300,000 Palestinian families over the next decade, and aims at improving the income and livelihood of the Palestinian people in the occupied areas, integrate them in the local economy and strengthen their resilience by investing in sustainable Economic Empowerment projects in partnership with the private sector in Palestine.
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