Project profile — Palestinian fund for reconstruction and development

The Palestinian Fund for Reconstruction and Development (PFRD) has been operational in West Bank and Gaza since 2021. Also, it is a vital tool to support the Palestinian Authority (PA) and the Palestinian economy, especially following the war in Gaza. Canada’s proposed contribution of CAD 30M $ over 3 years to PFRD, specifically on Pillar III. It seeks to strengthen sustainable recovery, economic reform, and social resilience through the provision of indirect financial and technical support to the PA. In addition, PFRD has cross-cutting themes of gender, citizen engagement, climate resilience and digital innovation which are central to its operations and are implemented throughout its portfolio. This contribution aims to alleviate the heavy burden on the PA, facing unprecedented levels of fiscal instability, and risking their ability to sustain essential public services to the Palestinian people, implement their reform agenda and plan for long-term recovery and reconstruction and governance of Gaza. Project activities include: (1) developing business management skills and financial literacy, including organization, negotiation, and record keeping; (2) strengthening operational processes, including marketing, legal and business registration, and product certification; and (3) mentoring and coaching beneficiaries of this project, including unemployed (skilled and unskilled workers), women and disabled persons.

The expected outcomes of this project include: (1) increased private capital mobilization; (2) increased business linkages with international markets; (3) enhanced financial sector infrastructure and accessibility; (4) increased employment in private sector; and (5) enhanced business environment for entrepreneurs and businesses through financial sector reform.

Too early to report on results.