On Wednesday 4 July, the European Commission announced the adoption of development programmes as part of the EU external investment plan in Palestine, which was launched the same day in Ramallah.
The programmes are worth €23.5 million and their objective is to strengthen economic growth and create a more business-friendly environment. According to a European Commission press release, the budget will be used to ensure efficient energy consumption, as well as affordable and reliable energy production in Palestine. It will also support small and medium-sized enterprises (SMEs) by providing them with advisory services and by reimbursing a share of the total costs of services. In addition, the EU funding will contribute to broadening the range of financial services available for micro, small and medium enterprises, particularly in Gaza.
The EU external investment plan in Palestine aims to favour economic development and to boost private investment.
The plan is based on the new €4.1 billion European fund for sustainable development in sub-Saharan African countries and the EU's neighbouring countries. In total, the EU hopes that €44 billion will be mobilised for these countries between 2017 and 2020 thanks to the external investment plan. (Original version in French by Camille-Cerise Gessant)