Press Release

June 2 , 2010

Bethlehem, West Bank – As part of the United States Government’s ongoing support of the Palestinian Authority’s efforts to strengthen the private sector and improve the business and investment climate, U.S Agency for International Development (USAID) Chief Operating Officer Alonzo Fulgham announced approximately $30 million in new activities aimed at enhancing the Palestinian private sector’s competitiveness.  The June 2 announcement, made during the Palestinian Investment Conference in Bethlehem, signifies the commitment of the United States Government to help promote sustainable economic development in partnership with the Palestinian Authority and to lay the foundations of a viable, independent future Palestinian state.

Specifically, USAID will launch a new $25 million project to assist the Palestinian Authority in its efforts to further develop a legislative and regulatory framework which fosters investment and trade. USAID will also establish two funds for small and medium Palestinian firms to invest in capital equipment to expand businesses, use new technologies, manage risk, and become more competitive in the market place.

Since 1994, USAID has provided close to $3 billion in U.S. economic assistance to Palestinians in the West Bank and Gaza via projects designed to reduce poverty, improve health and education, build infrastructure, create jobs, and promote democracy and good governance.