Gaza Tech and Innovative Recovery Program Launch
Gaza Tech and Innovative Recovery Program for firms destroyed or damaged by the May 2021 conflict
Ramallah- Palestine, DATE: The Ministry of National Economy and the Ministry of Telecommunications and Information Technology announced the launch of the Gaza Tech and Innovative Recovery Program implemented jointly by Technology for Youth and Jobs (Techstart) and the Innovative Private Sector Development (IPSD) projects. Funded by the World Bank, the Gaza Tech and Innovative Recovery Program aims to revive the technology and innovation sector hard hit by the latest Gaza conflict of May 2021, and to alleviate some of the challenges in Gaza’s already fragile business environment.
The joint Program will provide critical assistance to the IT service, tech and tech-enabled firms in Gaza that have suffered damage or destruction to physical resources in the most recent Gaza conflict. The Program aims to offer grants to support affected businesses to recover some of their losses. Grants will cover salaries and rent as well as replacement of essential furniture, equipment, hardware and software to enable speedy resumption of operations.
H.E. Mr. Khaled Al Osaily, Minister of National Economy states, “This Program is an important milestone towards achieving the Minister of National Economy’s mission to support the resilience of the Palestinian private sector.” Al Osaily explains, “The needs in Gaza are immense, and the government recognizes that responses to economic challenges from the recent war and the ongoing pandemic require long-term interventions and greater coordination. We are thankful to the World Bank for its financial support and for providing opportunities to improve, develop and invest in the capabilities of the innovative private sector, particularly through supporting startups and innovative SMEs.”
“We are eager to get the public and private sectors working together to support the Palestinian IT sector to strengthen its essential contribution to Palestinian economic growth and employment, particularly in Gaza.” said H.E. Dr. Ishaq Sader, Minister of Telecommunications and Information Technology. “We will address many serious challenges faced by the IT sector in Palestine through the World Bank funded TechStart project. The Ministry will continue to lead and support the tech sector to provide services and build linkages internationally. This recovery program will play an important role in the short-term recovery and long-term sustainability of businesses in Gaza.”
About the Innovative Private Sector Development Project (IPSD):
IPSD is a Ministry of National Economy project funded by the World Bank and implemented by DAI. IPSD aims to support Palestinian startups, SMEs and entrepreneurs from West Bank and Gaza by (i) improving businesses access and linkages to international and regional markets, (ii) developing a dynamic startup finance ecosystem, (iii) promoting government reforms and automating business registration, (iv) streamlining and providing a framework for home based businesses, and, (v) developing an outsourcing hub in Gaza. www.ipsd.ps
About Technology for Youth and Jobs Project (TechStart):
TechStart is a Ministry of Telecommunications and Information Technology (MTIT) Project funded by the World Bank and implemented by DAI. TechStart aims to increase economic opportunities for IT service firms in the West Bank and Gaza through three major programs: i) improving IT Services Capabilities, (ii) improving the IT Service Ecosystem and (iii) improving market access and increasing demand and investments. www.techstart.ps