October 22, 2020

UNOPS signs agreement with Islamic Development Bank to implement EEFPP programme

categories : islamic finance

JERUSALEM, Wednesday, October 21, 2020 (WAFA) – Director of the United Nations Office for Project Services (UNOPS), Tokumitsu Kobayashi, and president of the Islamic Development Bank (IsDB), Bandar Hajjar, signed today an agreement amounting to $1,000,000 to support the implementation and Capacity Development of the Economic Empowerment Fund of the Palestinian People Program (EEFPP).

As the Administrator of the EEFPP, the IsDB aims at providing through this important collaboration, the necessary support to institutionalize EEFPP’s strategic and operating models and gathering all its key partners under one umbrella, said the press release issued by the United Nations Office for Project Services (UNOPS) and the European Union in Palestine.

“This will be done by developing the required infrastructure including strategic plans and operating manuals to develop its activities and ensure its financial sustainability,” said the release.

President of the IsDB, said: “We are delighted to be collaborating with UNOPS to implement the Economic Empowerment Fund for the Palestinian People, a Fund which aims to empower economically over 1.5 million Palestinians over the next decade. The UNOPS has significant expertise in delivering these programmes and we’re looking forward to developing a long and fruitful relationship with them.”

The program consists of two main components, Capacity Development of the Economic Empowerment Fund of the Palestinian People (EEFPP) and Capacity Development of a Palestinian National Economic Empowerment Institution (PNEEI).

The key activities in this program will include conducting market feasibility studies, economic and sectoral studies as well as designing the operating model, products and developing a detailed business plan for the targeted entity.

UNOPS will be responsible for the administrative support of the project including managing Human Resources and Procurement in compliance with UNOPS rules, procedures and management best practices.

“We are pleased that the IsDB in Palestine trusts our wealth of experience in this area of service to contribute to the efficient implementation of the project financed by IsDB,’ said UNOPS Director Tokumitsu Kobayashi.

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