Innovative Private Sector Development II

active

Prospective

The proposed AF of $10 million will enable the project to scale up its support for the Palestinian startup ecosystem through existing project components. The project consists of four mutually reinforcing components that address key gaps in the ecosystem to create a supportive environment for tech and tech-enabled startups and innovative SMEs in the West Bank: Component 1: the “Entrepreneurship Ecosystem Development,” focuses on entrepreneurship ecosystem development and improving government to business services; Component 2: Building a Regional Outsourcing Hub focuses on building an impact business and outsourcing hub that equips Palestinian youth with the niche and high value skills demanded by private technology companies; Component 3: Project Management and Implementation Support will finance project management costs and capacity building for the Ministry of National Economy; Component 4: Contingent Emergency Response Component (CERC): was added to improve the PA’s ability to respond effectively in the event of an eligible emergency in line with World Bank procedures on disaster prevention and preparedness. De-risking is a crucial factor in mobilizing additional private capital, particularly in the Palestinian context, where investment uncertainty remains high. Scaling up interventions that reduce financial and operational risks for investors, will make startups more attractive for private sector investment. Further support to the Automated Business Registry System (ABRS) and other government to business services (licensing and inspections reforms), will facilitate faster business registration, reduce compliance costs, and create a more predictable regulatory landscape. This, in turn, will enhance the overall stability and scalability of the startup ecosystem, and ensure a more predictable business environment, driving private sector expansion and economic development.

FY17 - Financial Sector,FY17 - Industry, Trade and Services

World Bank

Project

Forest Products and Packaging, Commercial, Government