The Palestine Investment Fund completes the largest bond issuance in its history economy

The Palestine Investment Fund announced today, Tuesday, the completion of the largest bond issuance in the country’s history, worth $150 million, with the aim of strengthening and diversifying the sources of financing for its strategic projects.

The Fund said, in a statement published on its website, “We succeeded in implementing the largest bond issuance in the history of Palestine, worth $150 million, for a period of 5 years.”

He stated that the bond issuance was carried out with the participation of a group of local and regional banks operating in the Palestinian market, indicating that it constitutes a qualitative milestone in its journey towards strengthening its financial position and diversifying its sources of financing.

The Palestine Investment Fund is a sovereign development fund, established in 2003, and registered as a public joint stock company with the Ministry of National Economy.

3 year strategy

He added that the issuance comes in line with its strategy for the next three years, “which focuses on investing in vital sectors that support sustainable economic growth, including the sectors of industrial infrastructure, energy, technology, health care, trade, and agriculture, and enhancing national products by focusing on strategic industries.”

He pointed out that 7 banks operating in Palestine participated in the subscription: the Bank of Palestine, the Arab Bank, the Housing Bank for Trade and Finance, the Cairo Amman Bank, the Quds Bank, the Palestine Investment Bank, and the Jordanian Kuwait Bank.

The statement quoted the Chairman of the Fund’s Board of Directors, Iyad Judeh, as saying that the issuance “represents a prominent economic and investment achievement, and reflects the great confidence that the banking sector places in the Palestine Investment Fund, both in terms of the strength of its financial position, and in terms of its responsible and sustainable investment approach.”

He added that the step comes within the Fund’s vision to enhance its development role by diversifying financing and investment tools, “enabling it to move forward in implementing strategic projects that contribute to creating job opportunities and empowering the Palestinian private sector.”

According to its annual report, the fund’s assets amounted to $900 million until the end of 2024, while its contribution amounted to about $3.2 billion in the gross domestic product.

416 institutions also benefited from social responsibility programs during the last five years, while the collection transferred to state coffers until the end of 2024 amounted to approximately $1.1 billion, and 85,000 job opportunities were provided between 2006 and 2024.