At his office in Ramallah today, PMA Governor Azzam Shawwa met with European Bank for Reconstruction and Development (EBRD) head of office in Jordan Heike Harmgart. The meeting was attended by Assistant to the Governor for Financial Stability Affairs Dr. Riyad Abu Shehadeh and Director of the Palestinian Monetary Authority's (PMA) Consumer Relations and Market Conduct Ali Faroun. The meeting addressed the possibilities to promote bilateral cooperation between PMA and EBRD and it was agreed to conduct an introductory workshop for banks operating in Palestine and specialized lending institutions on the operations, goals and activities of EBRD.
The meeting focused on EBRD efforts to rebuild, develop and support the Palestinian economy and its intent to invest 30 million Euros in Palestine. The discussions touched upon the effect of such investments on private sector competitiveness and innovation, increasing access to finance for micro, small and medium-sized enterprises and fostering the private sector and its role in efficient energy use and infrastructure.
During the meeting, Mr. Shawwa described the efforts made by the PMA to maintain financial stability and ensure robustness and continuous development of the banking sector in Palestine so that it can provide up-to-date and quality services matching those provided by banking systems worldwide.
From her side, Dr. Harmgart conveyed ERBD’s readiness to provide different types of support in order to help promote the Palestinian banking sector and economy.