The World Bank contributed $3 million to the PA Ministry of National Economy for the provision of business development services, a press statement said Tuesday.
The project will create a business development unit at the ministry, and modernize technology infrastructure, services and skills, the World Bank said.
"Timely delivery of business development information to private sector firms can potentially create sustainable jobs for the many unemployed people in the West Bank and Gaza," economist at the World Bank Jana Malinska said.
"It will particularly benefit women entrepreneurs and help small and medium-size enterprises access a full-range of information and services."
World Bank Country Director for West Bank and Gaza Mariam Sherman applauded the Palestinian Authority's efforts to improve the business environment.
"We hope that restrictions on access to markets could be removed to unleash the full potential of the private sector and lead to real growth and job opportunities," she added.