Bank of Palestine and PADICO signs an agreement to open a new branch for Bank of Palestine in Gaza Strip’s Industrial Zone

Bank of Palestine signed an agreement with PADICO, one of the companies in PRICO Real Estate Development Group, to open a branch for the Bank in the Industrial Zone, in the northern area of Gaza Strip. The agreement was signed by Mr. Hashim Shawa, Bank of Palestine’s Chairman and General Manager, Engineer Nabil Al-Sarraf, Chairman of the Board of Directors of the Palestine Real Estate Investment Company (PRICO), and in the presence of Engineer Nidal Abu Lawi, General Manager of PRICO, Engineer Tariq Zourob, General Manager of PADICO in Gaza, Dr. Hani Nigim, Member in Bank of Palestine’s Board of Directors, Mr. Hani Salah and Mrs. Susan Khoury, Assistants General Manager, and a number of managers from both sides.

During the signing ceremony, the two sides discussed the conditions of the Palestinian economy, particularly in Gaza, and they discussed the future prospects of the Palestinian economy and its ability to endure crisis, in addition to the determination of people in Gaza Strip and project owners to work, be productive and continue to invest despite the difficult political and economic conditions and lack of hope.

Shawa stressed on the importance of supporting all operating projects in Gaza Strip in various methods and to continue to provide them with hope for a better future; Shawa added that the Bank put great efforts after the war through contributions to support affected projects by refunding these projects to operate and be productive again and push the economic wheel forward.

Al-Sarraf praised the Bank’s efforts to stimulate the growth of the Palestinian economy; he also presented a group of projects being implemented by the company, including the Industrial Zone project in Gaza Strip.

Engineer Tariq Zourob, General Manager of PADICO, presented some of the features of the Industrial Zone in northern Gaza Strip; he indicates that the area of the region is approximately 500 thousand square meters, equipped with needed infrastructure. Zourob adds that 70% of the Industrial Zone’s area was prepared for buildings, i.e. 350 thousand square meters. He adds that all building established in the Industrial Zone have been rented out, and currently around 25 thousand square meters are being prepared and equipped.

The new Industrial Zone in Gaza includes different industries, such as food industries, including chips, biscuits and juice factories, large plant for Coca-Cola, plastic industries, pipe industries for water, electricity and sewage; in addition to other industries in the fields of recycling and cleaning detergents, aside from a group of international institutions; indicating at the same time that the Industrial Zone provides new incentives for investors and entrepreneurs.