Zaman Press, Palestine: The Director of Mission of the United States Agency for International Development (USAID) launchedUSAID), Amy Tuhel-Stoll, New Pilot Activity for Digital Financial Services on Wednesday, December 14th. The million-dollar project will be implemented over the next year by “E-Trade Alliance”, which is a consortium of American companies, led by the group Palladium.
Despite recent developments in the Palestinian digital ecosystem, the digital economy is still lagging behind compared to other countries in the region. During 2021, less than ten percent of Internet users in the West Bank and Gaza purchased goods and services online, largely due to the absence of consumer protection and limited adoption of digital payments.
This activity will achieve two primary objectives: (1) Build global and local partnerships to facilitate digital payment services for SMEs (SMEs), and (ii) promoting financial literacy and adoption of digital financial services by Palestinian SMEs and underserved populations, including women, youth, and the unbanked.
“The future of financial services is digital, and expanding digital services and raising financial awareness will unlock the potential of the Palestinian digital economy,” said Amy Tuhill-Stoll, USAID Mission Director for the West Bank and Gaza.
Last year, USAID invested $150 million to enable Palestinians to build prosperous and sustainable communities and to promote inclusive development. The financing of this project is part of a larger set of economic growth activities that includes the Small and Medium Enterprises Recovery and Recovery Assistance Program (SMERP).SMART). You can learn more regarding USAID’s activities in this sector on our website:
https://www.usaid.gov/west-bank-and-gaza/economic-recovery-and-growth
