PFESP grants 140 concessional loans to facilities affected by Corona pandemic, within the steadfastness program
With a financial portfolio of four million dollars, the "steadfastness" emergency lending program launched by the Palestinian Fund for Employment and Social Protection of Workers (PFESP) has achieved a record number of concessional loans granted to small and micro facilities affected by Corona pandemic. In early May.
The total number of loans granted by the "Program" implemented by PFESP in cooperation with Faten Foundation to those affected reached to about 140 loans, with a total value of more than two million US dollars.
The granted loans included most sectors, services, trade, industries, crafts, and tourism in most of the country governorates.
The program is implemented in cooperation with the Ministry of Labor and the Ministry of Finance and Planning, and with a support from the Italian Agency for Development Cooperation "AICS Gerusalemme" within "Start Up Palestine project".
Dr. Nasri Abu Jaish, The Chairman of PFESP and Minister of Labor, affirmed that the loans will contribute to support the damaged establishments. It will maintain their operational capabilities, and to recover from the effects of the closure during the period of declaring the emergency and reviving the affected projects.
Dr. Abu Jaish confirmed that the program quickly and exceptionally responded to the needs of economic and development groups affected by "Corona." It is because of the distinguished common work between PFESP, Faten Foundation, Ministries of Labor and Finance, and the Italian Cooperation Agency.
Mr. Mahdi Hamdan, the Executive Director of PFESP, said that "the steadfastness program" was launched in record time. The work was done closely with the beginning of the announcement of the precautionary measures for designing the program. It is considered the first programs and projects implemented in the country for the benefit of small enterprises affected by "Corona pandemic," in keeping with the needs of these facilities and within the available capabilities of PFESP.