“The Covid-19 crisis has severely affected the private sector in an already weak Palestinian economy. SMEs and start-ups are now experiencing serious capacity constraints and need financial support to curb layoffs and avoid bankruptcy,” Kanthan Shankar, World Bank country director for West Bank and Gaza, said.
The World Bank’s response to “ensure business continuity and job preservation is critically important, especially for youth and women affected by the pandemic”.
This move follows the World Bank s recent grant of $20m to improve access to high-speed broadband services in Palestinian territories. The Digital West Bank and Gaza Project will allow the use of e-services and help people conduct business online, the lender said.
World Bank grants $20m to improve access to high-speed internet in Palestine
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World Bank approves $20 million to boost digital development in the Palestinian territories
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