COVID 19 Rapid Response Program
COVID-19 Rapid Response Program is implemented by the Palestinian Ministry of National Economy’s Innovative Private Sector Development Project (IPSD) and the Ministry of Telecommunications and Information Technology’s Technology for Youth and Jobs Project (TechStart), both projects are funded by the World Bank and implemented by DAI. The program provides financial support to Palestinian companies struggling through the current COVID-19 pandemic.
This support program is a sequel to the successful COVID-19 Rapid Response program concluded in 2020 also by IPSD, but with F4J as the partner. Although the 2020 program was successful, the pandemic continued to pose a threat to the Palestinian economy, and a new wave of closures meant that the threat is still present and that Palestinian companies can benefit from another wave of financial support to weather the storm.
The support in this iteration will be in the form of salary subsidies for existing or new employees, to help alleviate financial burdens caused by the economic impact of the pandemic. In addition, grants can be awarded for online training courses that can help companies better utilize their resources under the current circumstances and even generate a new revenue stream through new business development.