Palestinians Get First Private Equity Fund

posted on: Feb 1, 2010

Two Arab investment companies have announced the launch of the first private equity fund designed to boost the Palestinian economy.

The semiofficial Palestine Investment Fund and Dubai-based private equity firm Abraaj Capital, said Sunday that they will invest in small and medium-sized businesses. They say they will provide an initial $15 million, and hope to raise a total of $50 million this year.

Western-backed Palestinian Prime Minister Salam Fayyad, an internationally respected economist, has announced plans to build institutions to lay the groundwork for independence in two years, regardless of progress in peace talks with Israel. The fund jibes with this plan.

Business Week