23/12/2009 (Agence Europe) - On Tuesday 22 December, the European Investment Bank (EIB) entered into a commitment to provide reference funding of €5 million in favour of the Middle East Venture Capital Fund, the first venture capital fund to target the Palestinian territories, and more specifically businesses focusing on export and specialising in information technology. Once it is operational, the EIB states that this fund will "make a key contribution to the development of private business and the local high-technology and financial sectors". The EIB's commitment became official in a signature ceremony held in Ramallah with the support of the Palestinian Prime Minister Salam Fayyad and attended by Hassan Abu Libdeh, Minister of the Economy, and Mashhour Abu Dagga, Minister for Telecommunications and Information Technology. (O.L./transl.fl)