Under the auspices of H.E. Prime Minister Dr. Rami Al Hamdallah, and with participation from H.E. Governor of the Palestine Monetary Authority, Mr. Azzam Shawwa, and H.E. Minister of Energy, Dr. Omar Kittaneh, the Palestine International Banking Conference 2016 will open on November 21, 2016, in the city of Jericho. The conference is titled “Renewable Energy and Finance Opportunities” and is organized by the PMA, in collaboration with the Association of Banks in Palestine (ABP), the International Finance Corporation (IFC) and the European Palestinian Credit Guarantee Fund.
The conference aims to discuss the role of raising social awareness of the importance of renewable energy use; highlight the requirements necessary for the creation of an enabling environment for renewable energy use; discuss the importance of incentives for launching initiatives for renewable energy projects and present suitable tools and mechanisms to finance renewable energy projects.
Conference session themes will focus on presenting the current state of affairs of renewable energy, both locally and regionally; showcasing international experience in renewable energy finance and highlighting the competitive advantage of renewable energy and the significance of finance as well as the role of loan guarantee programs in the in popularization and promotion of renewable energy finance programs.
H.E. Governor Shawwa said that the interest in the subject of renewable energy and finance opportunities arises from social and national responsibility of the PMA and the Palestinian banking system, given that Palestine lacks natural resources, while, at the same time, enjoys an abundance of renewable energy resources, such as wind and solar energies. Consequently, investment in renewable energy projects would present the Palestinian economy with several benefits.
Governor Shawwa hoped that the conference will contribute to the creation of a national team for the formulation of the national strategy on optimal use of renewable energy. Optimal use, he added, can be realized through the launch of initiatives for renewable energy utilization projects, which, it is anticipated, will create financing opportunities for the banking sector to be willing to meet and upgrade.