Under the auspices and presence of Prime Minister Dr. Mohammad Shtayyeh, the Finance Minister Shukri Bishara, and the World Bank Country Director for the West Bank and Gaza, Mr. Kanthan Shankar, on 30 June signed two agreements in the field of energy and information technology, worth $78 million.

The first agreement is a project to develop the performance sustainability and reliable infrastructure of the energy sector in the State of Palestine, worth $63 million, funded by the World Bank, Norway, the European Union, and the United Kingdom, through the Department for International Development.

The second agreement is a $15 million 'Technology for Youth and Jobs’ project, funded by the World Bank and aims to support the Palestinian tech sector within the framework of Research and Development (R&D) and innovation.

“I’d like to take the opportunity to thank you so much in the presence of our ministers, who have signed this agreement. The first project, which is of a total value of $63 million fits neatly with the Palestinian priorities on the way to the establishment of an independent Palestinian state, on the borders of 1967,” Prime Minister Dr. Mohammad Shtayyeh stated. “The donors who are present here; The World Bank, The European Union, Britain, Norway… We are grateful to this assistance. It will help us rehabilitate some electricity stations and import electricity from Jordan in the way to disengage from the colonial dependency that has been established since Palestine became under occupation in 1967.”

“If Palestine has to be with a real added value in the region, I think our focus on solar energy will be the ultimate goal. By all means, also to provide loan guarantees of a total of $20 million for investors in the private sector to establish solar energy units. Utilizing the space of public institutions, hospitals, clinics, schools, and ministries to provide and generate electricity solar energy is an added value for us,” Dr. Shtayyeh added.

On the 'Technology for Youth and Jobs’ project, Dr. Shtayyeh said: “This is really the project that will enable Palestine not to only walk in the region, but to jump. This project, which is of a total value of $15 million, will create 1000 jobs 50% of which for women to have gender balance in the technology sector, and it will provide 750 training opportunities, and create some sort of networking- connect Palestinian information technology companies with international companies.”

For his part, Kanthan Shankar congratulated the Prime Minister on the signing of these agreements. He said: “It is an absolutely critical project, most so  now while we are going through this thing where we can’t move. You can count on us as your close partner and we will continue to be able to deliver.”