Translated by Sabrin Qadah 

Shtayyeh proposed the establishment of such a fund four months ago at the meeting of the Union of Banks held at the Dead Sea.

During his speech at the conference titled "The mechanisms and requirements of sustainable development in the Arab world", Shtayyeh said that the process of legal and administrative establishment has begun.

He added that there will be great coordination directly with all investors and workers in Palestine, whether that was Palestinian Investment Fund or investors from the private sector to contribute to the Fund.

He clarified that the aim of the fund is to finance profitable investments in Palestine and to create Palestinian-Arab partnerships to strengthen the Palestinian economy, support the steadfastness of the people of Palestine and develop viable national products as an alternative to Israeli industries and goods, which ultimately creates jobs for young youth.

He pointed out that the projects targeted for financing are either for profit or are projects of economic feasibility and strategic nature, or projects that come in harmony with the Palestinian National Development Plan and priorities and others that generate jobs.

Shtayyeh said the fund's sources of funding would be through the contributions of Arab and Palestinian commercial and Islamic banks.

He stressed that despite all the obstacles of the occupation, experiences confirm the success of investment in Palestine, especially if we look at the success stories of companies and factories operating, which have made significant investments, including: Coca-Cola, Pepsi, Movenpick, al-Nakheel, the cement factory and air conditioning factory.

During the meeting, Palestinian businessman Munib al-Masri announced his contribution of $1 million to establish the fund.