Summary
The fund proposed in Appendix 3 of Peace to Prosperity: A Vision to Improve the Lives of the Palestinian and Israeli People to manage the financial and project support for the Peace to Prosperity investments, disbursing by tranche against developmental milestones agreed as conditions precedent to continuance of the economic plan (Peace to Prosperity: A Vision to Improve the Lives of the Palestinian and Israeli People, PDF p.92).
Details
- The Fund will serve three functions: act as a conduit for private businesses to access capital; manage and sign off on disbursement of funds by tranche, linked to achieving developmental milestones separately agreed by the parties as conditions precedent to continuance of the economic plan; and be responsible for the transparency and accountability of disbursed funds, on behalf of donors, investors and the Palestinian people (PDF p.92).
- Its implementation mechanism is aimed to be analogous to that of the Marshall Plan, with a core focus on creating a thriving business sector and ending reliance on donor aid; the Fund will not be the implementing agent, independent businesses will predominately implement the projects, and prospective implementing parties will submit competitive project proposals (PDF p.93).
- The Fund will also provide access to capital for projects not specifically outlined in Appendix 3, particularly in support of entrepreneurs and small and medium businesses (PDF p.93).
- The economic plan’s Foreword separately describes capital raised being placed into a new fund administered by an established multilateral development bank, with accountability, transparency, anti-corruption and conditionality safeguards, and fund leadership working with beneficiary countries on annual investment guidelines, development goals and governance reforms (PDF p.57-58).
Related pages
Peace to Prosperity, Peace to Prosperity: A Vision to Improve the Lives of the Palestinian and Israeli People