World Bank approves grant for Palestinian IT sector

On June 12, 2020, the World Bank approved a significant grant of US$15 million for the Technology for Youth and Jobs (TechStart) Project, aimed at bolstering the Palestinian IT sector. This initiative is designed to enhance the capabilities of local firms and create high-quality job opportunities, particularly for the youth demographic, which represents 30% of the Palestinian population. The region has been grappling with high unemployment rates, making this project crucial for economic revitalization. Kanthan Shankar, the World Bank Country Director for West Bank and Gaza, emphasized the IT sector's potential to drive economic growth and provide meaningful employment for young Palestinians. By investing in technology and innovation, the TechStart Project seeks to empower the youth, equipping them with the skills necessary to thrive in a competitive job market. This grant not only aims to uplift the IT sector but also to foster a sustainable economic environment that can lead to long-term benefits for the Palestinian community.