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New group forming to alleviate poverty in Palestinian territories

As part of the Palestinian Authority's efforts to end poverty, the Islamic Development Bank has set up an investment fund allowing the new Palestinian People’s Economic Empowerment Institution to have its own budget.
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RAMALLAH, West Bank — The Islamic Development Bank (IsDB) has established an investment fund aimed at curbing Palestinian poverty, the bank's governor in Palestine announced this month. The fund will help finance the Palestinian People’s Economic Empowerment Institution. The Palestinian government has given instructions to the Ministry of Social Development to prepare to launch the institution in mid-2019.

The institution will battle poverty in the Gaza Strip and the West Bank, on the basis of the 2017-2022 National Policy Agenda launched on Feb. 22, 2017. Its ultimate goal is to help the Palestinian Authority (PA) wipe out poverty by 2030, in line with a United Nations plan launched in August 2015.

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