The Governor of Palestine Monetary Authority Meets with the Minister of Tourism and Antiquities to Discuss the Repercussions of the Health Crisis on the Tourism Sector
Ramallah and Al-Bireh Governorate - His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, met today at the headquarters of Palestine Monetary Authority, with Her Excellency the Minister of Tourism and Antiquities, Mrs. Rula Maayah, and discussed the repercussions of the current health crisis caused by the outbreak of the coronavirus, on the tourism sector as one of the sectors most affected sector by this crisis.
Mr. Shawwa and Mrs. Maayah discussed the relationship of tourism establishments with the banking sector, including the postponement of loans and the mechanism of dealing with them and the cheques returned due to insufficient bank balance, in addition to discussing how to take advantage of the "Sustainability" program launched by Palestine Monetary Authority recently to help the sectors affected by the health crisis to help them continue their work. It was agreed to hold a meeting with the tourism sector after Eid al-Fitr. The meeting shall be called by the Ministry of Tourism to present Palestine Monetary Authority's actions to help the tourism sector, to listen to employers and to study what Palestine Monetary Authority could do to help them.
It is worth mentioning that during the current health crisis, Palestine Monetary Authority issued a series of instructions and procedures for banks and lending institutions, to mitigate the repercussions of the crisis on the economic sectors, especially tourism and hotel, and to make it easy for citizens and borrowers under the current circumstances, and then launched Sustainability Program for providing financing to small and micro enterprises that were economically affected by the coronavirus pandemic, with a volume of $300 million, to be implemented through banks and specialized lending institutions.