The Palestine Monetary Authority Holds a Workshop for Female Entrepreneurs on Projects Financing Sources

In cooperation with several associations

Gaza, 20-09-2022

The Palestine Monetary Authority (PMA), in collaboration with the Albait Alssamed Association, the Women's Affairs Technical Committee, the Aisha Association, and the East Gaza Association for Family Development, held an awareness workshop for about 150 women entrepreneurs in the Gaza Strip today on access to sources of project funding, with the participation of representatives from the Bank of Palestine and the Palestinian Islamic Bank.

The workshop aimed to educate women entrepreneurs about financial services and products, as well as available funding sources, particularly the "Estidama" Fund, to promote financial inclusion, support and develop women's projects, and achieve sustainable growth.

Dr. Ra'fat Al-Araj, Regional Supervisor of the Control department at the PMA in Gaza Strip, opened the workshop, welcoming representatives from women's organizations and institutions, and the banking sector.

Mr. Muhannad Salous, Chief of the PMA's Financial Inclusion Division, gave a presentation on the PMA's efforts to promote financial inclusion in Palestine and the delivery of banking services to all segments of society, most notably electronic payment services and their modern technological means to complete financial transactions.

He noted that this workshop is part of a series of meetings aimed at involving institutions that support women's projects in exploring financing options and facilitating access of entrepreneurship and microenterprises to financing sources provided by banks and specialized credit institutions. This will enable them to develop and sustain their projects, resulting in more job opportunities and an improvement in the living standards of these groups.

Mr. Mahmoud Barhoum from the Supervision and Inspection Department explained the Estidama Fund and its financing programs, particularly the microcredit program, which provides financing of up to $10,000 with an amortization period for up to four years with no interest or commissions and targets microenterprises owned by women, youth, and marginalized groups.

The entrepreneurs, speakers, and bank representatives discussed the mechanisms, conditions, and guarantees that must be met to obtain financing through the Estidama Fund's microenterprise program. The attendees' questions were answered, and solutions were provided to help them gain access to funding sources.

It should be noted that this workshop is part of a series of awareness workshops that will be held in the Gaza Strip in collaboration with all institutions involved with women entrepreneurs and women's and youth projects.