The economic consequences of Covid-19 for Palestine, Online Workshop, 21st May 2020

On the 21st May, Forward Thinking convened a meeting of businesspeople and economic experts to discuss the economic needs of small businesses in Palestine. Attendees included representatives of the business communities in the West Bank and Gaza as well as figures with experience in international finance and development economics.Small and Medium-sized Enterprises are integral to both the social and economic welfare of Palestinians, yet they face a number of long-standing challenges, including poor access to finance, graduates leaving university without the necessary skills for employment, and the many effects of occupation from travel restrictions in the West Bank to the prohibition of ‘dual-use’ items in Gaza.Recently, the COVID-19 pandemic has created a shortage of cash on hand for these businesses to cover their fixed costs. The discussion explored possible frameworks for facilitating investment and widening the availability of financing to Palestinian businesses, to alleviate the current pressure on SMEs and to establish a long-term improvement of business conditions in Palestine. Future workshops will explore these issues in more detail in the weeks ahead.