Europe’s investment in Palestine is evaluated at € 1.42 billion ($1.61 billion), which is over 10% of the Palestinian GDP.
A high-level policy meeting on Friday in Ramallah revealed this in the first edition of the European Union (EU) – Palestine Investment Review.
The Investment Review showed that over the last years European partners stepped up their investments into the Palestinian economy.
Around 60% of $1.61 billion were committed only in the last two years showing remarkable growth in mobilization of finance for Palestine.
The big bulk of investments is dedicated to boosting access to finance for SMEs, the backbone of the Palestinian economy.
Another significant area of investment is finance for energy, including renewables, energy infrastructure as well as energy efficiency.
The 3rd meeting of the EU – Palestine Investment Platform was chaired by the Prime Minister’s Office and the EU Representative Office.
Several representatives of Palestinian and European public institutions also participated in the meeting.