Press Release

OFID extends US$3 million grant to Palestine for microfinance
Al-Herbish and AbuZayd hold joint press conference

PR34/2009 July 2, 2009 Vienna, Austria
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The OPEC Fund for International Development (OFID) has extended a US$3 million grant to Palestine to support micro-financing. The grant, channeled through the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), was a further demonstration of OFID’s commitment to the welfare of the Palestinian people.

The grant was signed at a ceremony yesterday at OFID headquarters attended by numerous dignitaries, including HE Mr. Riyad al-Maliki, Minister of Foreign Affairs of the Palestinian Authority; H.E. Dr. Mikhail Wehbe, Ambassador of the League of Arab States Mission in Austria; H.E. Dr. Omar Zniber, Ambassador of Morocco to Austria; H.E. Ishaya El Khoury, Ambassador of Lebanon to Austria and Dean of the Arab Diplomatic Corps; and H.E. Dr. Zuheir Elwazer, Ambassador of the Mission of Palestine in Austria. Also in attendance were members of the Austrian and foreign press.

OFID Director-General, Mr. Suleiman J. Al-Herbish signed on behalf of OFID, while Ms. Karen Koning AbuZayd, Commissioner-General, UNRWA, signed on behalf of the UN organ.

Mr. Al-Herbish extended a warm welcome and thanked all of the guests for attending the grant signature ceremony. This shared presence “is symbolic of our joint and fervent commitment” to do whatever is possible to alleviate the “overwhelming deprivation and intense suffering” of the Palestinian people. The Director-General proceeded to outline OFID’s commitments to Palestine, which has, to date, reached nearly US$109 million, of which US$70 million has been channeled through OFID’s Special Grant Account for Palestine established in 2002. Mr. Al-Herbish also noted that OFID’s Ministerial Council had recently approved a US$20 million replenishment of the Account. He also pointed out that OFID had extended four emergency grants totaling US$11.5 million in response to the recent crisis situation in Gaza.

Furthermore, the Director-General explained that today’s meeting marked the occasion of the Fifth Anniversary of OFID’s cooperation with UNRWA’s microfinance department. He spoke of the creation of the PalFund in June 2004, which began with OFID’s US$2.5 million contribution. In 2007, OFID approved an additional US$7.5 million, explained Mr. Al-Herbish, who stressed that since PalFund’s inception, over 20,000 micro-enterprise loans, representing US$26.55 million, had been extended. “This clearly bears testimony to PalFund’s growth and sustainability,” said Mr. Al-Herbish.”

Continuing, the Director-General said that the OFID/UNRWA partnership had “unlocked the door” for many Palestinians as the PalFund is helping them to achieve a “sense of security and well-being” for both themselves and their communities. In conclusion, Mr. Al-Herbish pointed out that today’s US$3 million grant would bring OFID’s total PalFund contribution to US$10 million. He said this will reinforce OFID’s commitment to “our brothers and sisters in Palestine” and “re-invigorate our valued support for UNRWA.”

H.E. Mr. Riyad Al-Maliki thanked the Director-General, and said that he has followed the progress of the PalFund since its inception. “This has been a learning experience for me to realize that OFID is a major contributor to PalFund,” said Mr. Al-Maliki. He added that more people should be made aware – especially the Palestinians – of OFID’s involvement in helping them rebuild their lives. The Minister promised Mr. Al-Herbish that at the next Palestinian cabinet meeting, he would insure that the Ministers were made aware of “OFID’s steadfast support” to Palestine.

Mr. Al-Maliki went on to say that the PalFund is “one of the best of its kind in the Palestinian Territory.” The solid successes of the PalFund should serve as a “learning experience for other like-minded institutions to support capacity building,” he added. The Minister concluded by commending Mr. Al-Herbish and Ms. AbuZayd for their “excellent work” adding that he was proud to have been present at the signing ceremony.

Ms. AbuZayd informed the guests of the situation facing the Palestinians in the Gaza Strip. She said they were still cut off from many essential social services and were trying to rebuild destroyed homes and infrastructure. Ms. AbuZayd also expressed her satisfaction that the PalFund has shown to be highly successful. The Commissioner-General also spoke of the Marcel Khalife Concert for Peace and Humanity that held the previous evening at Vienna’s Rathaus. At the occasion, Mr. Al-Herbish announced OFID’s approval of US$1.2 million in support of UNRWA’s Scholarship Fund for Talented Palestinians (see press release 33/2009). This assistance was vital, noted Ms AbuZayd, as increased educational opportunities translate into more self reliance for the Palestinian people. Commenting on OFID’s ongoing assistance, she noted that, last year, a US$5 million grant was extended by the institution to help rebuild the Nahr El Bared refugee camp in Lebanon. The Commissioner-General thanked OFID for its “long-standing cooperation and commitment” adding that she looked forward to continuing the partnership. Mr. Al-Herbish assured the Commissioner-General that OFID would continue its support.

On the heels of the signing ceremony, Mr. Al-Herbish and Ms AbuZayd held a joint press conference with members of the Austrian press. The Director-General highlighted OFID’s noble role in providing assistance to the Palestinian people. On her part, the Commissioner-General explained the myriad problems and challenges that the Palestinian people are facing daily, as well as efforts being made by UNRWA with support from OFID and other institutions to help alleviate the problems. Thereafter, there were questions from members of the media and answers by Mr. Al-Herbish and Ms. AbuZayd.

 

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