Palestine to launch green economy strategy and insolvency law

Palestinian Minister of National Economy, Mohammed Al-Amour, announced the upcoming launch of a national strategy for a green economy and a comprehensive insolvency law. These initiatives aim to enhance the resilience of Palestinian enterprises, reduce operating costs, and increase competitiveness by facilitating a transition toward a more sustainable economy.

The announcement took place during the launch of the Green Economy Financing Facility (GEFF). The event was attended by representatives from the Palestinian Monetary Authority, the European Union, and the European Bank for Reconstruction and Development (EBRD).

Al-Amour highlighted that the Palestinian economy faces severe challenges due to Israeli measures, including the withholding of clearance funds and restrictions on movement and trade. He emphasized the role of green financing in helping businesses grow despite these obstacles. Since 2017, the EBRD has supported 36 private sector projects in the West Bank and Gaza with a total value of 185.5 million euros, providing additional consultancy and training for small and medium-sized enterprises.