Ramallah - "Jerusalem" dot com - The Governor of the Monetary Authority , Dr. Feras Melhem emphasized the readiness of Palestinian banks to support productive projects, and that they have sufficient liquidity to finance those projects that contribute to the Palestinian national economy, pointing to the importance of strengthening partnership between the public and private sectors, especially in supporting infrastructure projects, by creating the legal and administrative framework for these projects.

This came during his speech at the opening of the Dialogue Conference between the public and private sectors on improving access of medium and small companies to financing sources, organized by the European Union and the Organization for Economic Cooperation and Development (OECD), in the presence of His Excellency the Minister of National Economy, Mr. Khaled Al-Osaily, and the Head of Cooperation from the European Union, Mr. Ibrahim Lafia. And the advisor of the Organization for Economic Cooperation and Development, Middle East and Africa Department, Dr. Mariarosa Lunati, and a number of representatives of the financial, banking and economic sector institutions.

The governor explained that the financial indicators of the banks show their excellent solvency, as the assets of banks operating in Palestine amounted to about $20.5 billion, while the capital adequacy ratio reached 16.5%, which is higher than the minimum internationally recommended percentage. One billion dollars, while the default rate in Palestine reached 4.15%, which is considered the best compared to neighboring countries.

The Governor pointed out that the Monetary Authority worked, through banks, to design programs for micro-enterprises with zero interest, through the Sustainability Fund launched by the Monetary Authority in partnership with the government, explaining that since April 2021, about 1,600 projects have benefited from this program, 19 % of the loans granted to them are for projects led by women. As for small, very small and medium enterprises, the fund is not directed to support those projects affected by the Corona pandemic, but also to economic development, and work has been done to ensure that the fund is directed to economic development in several sectors, including distance education and health. the digital economy, and the green economy.

The governor indicated that the Monetary Authority is in the process of adopting a strategy for green financing, and that during the last period an agreement was signed with the European Investment Bank worth $192 million to grant loans at preferential rates to small and medium enterprises in sectors related to the green economy and renewable energy.

The governor thanked the organizers of the conference, the Organization for Economic Cooperation and Development, the European Union, the Embassy of the State of Palestine in France and the supporting international bodies.