Bank of Palestine signs a memorandum of understanding with the United Nations Development Program in support of sustainable development and financial inclusion in Palestine
2 | 9 | 2019
Bank of Palestine and the United Nations Development Program signed a memorandum of understanding for joint cooperation in support of sustainable development and financial inclusion in Palestine. The signing ceremony was held at the bank’s headquarters in Ramallah in the presence of Mr. Hashim Shawa, the Chairman of Bank of Palestine Group, Mr. Roberto Valent, the Special Representative to UNDP’s Programme of Assistance to the Palestinian People, and several managers and officials from both sides.
Based on the memorandum of understanding, both parties will cooperate in achieving the goals of sustainable development, especially in marginalized areas and the city of Jerusalem, whereby a joint Technical Committee was formed to execute the articles of the agreement including the implementation of heritage and cultural restoration projects in Jerusalem and the urban rehabilitation of touristic and historic sites through the provision of bank expertise in the field of financing housing projects to low income citizens in the city of Jerusalem.
Sustainable development in the city of Jerusalem and marginalized areas will form a major part of the cooperation between both parties. The bank will provide its expertise and experiences in supporting economic development by focusing on the promotion, support and encouragement of micro, small and medium sized projects. Some articles in the memorandum of understanding stipulate cooperation with the diaspora community in accordance with established developmental goals and the relaunching of the TOKTEN program, which is an initiative to communicate with the diaspora communities and encourage them to contribute some of their experiences and expertise to Palestine.
The memorandum of understanding will provide the opportunity for cooperation in the field of volunteering in cooperation with the United Nations Volunteers, and also provide employment opportunities for youth in Gaza through rehabilitation, training and empowerment, with focus on vocational training.
Mr. Hashim Shawa expressed his enthusiasm about the signing of the memorandum of understanding with the UNDP, especially since it forms part of the goals that Bank of Palestine seeks to achieve on the ground. According to Shawa, “the agreement operates to achieve higher goals that serve our society and its youth and stems from the bank’s belief in supporting Palestinian society and enabling it to achieve sustainable economic, social and cultural development, especially in marginalized areas.”
Shawa also pointed out that the bank dedicates enormous attention to Palestinian society through the creation of local and international partnerships, and mobilizes the efforts and capacities of various organizations to work on serving the Palestinian people to attain the utmost benefit from its various partnerships with civil society organizations and enable them to work, produce and effectively participate in the economy. Shawa added that “the bank allocates 5% of its annual profits to corporate social responsibility and supporting the various developmental sectors, focusing on sustainable projects.” “The bank launched a series of sustainable programs in the fields of health, education, development, childhood, human endeavors and women empowerment, all of which managed to achieve great success,” he added.
Mr. Roberto Valent, the Special Representative to UNDP’s Programme of Assistance to the Palestinian People, stated that the private sector plays an essential role in achieving sustainable development goals, and the alliance between Bank of Palestine and the UNDP seeks to promote the agenda of these goals and harmonize innovative interventions to achieve economic growth and create employment opportunities, especially for marginalized groups in Palestine.
For further information, contact the following:
- Ms. Dania Darwish, Head of Media and Communication at UNDP
- mobile: 054 8 173 936
- Mr. Rabee Dwekat, Head of Public Relations and Marketing, Bank of Palestine
- mobile: 059 9 299 199