Supporting private-sector investment projects to create sustainable jobs for Palestine’s workforce
The purpose of the ICF is to leverage private investment to create sustainable new jobs – especially for women, youth, unemployed and other vulnerable categories – by providing the marginal financing needed. The ICF considers two different types of grants:
Grants for Capital Investment will cover a share of the upfront capital cost of an asset such as equipment or machines.
Grants for Operating Investment will either compensate for operational shortfalls of the project or will ensure the project’s minimum profitability through co-financing activities like purchasing inventory, market access and growth, and product development.
The Finance for Jobs (F4J) project is accepting applications of business investment projects in Agriculture, Agribusiness, Tourism, Light Manufacturing, Information Technology and Renewable Energy that is part of an investment project. F4J project will provide complementary financing needed to complete the investment and proceed to implementation, with the objective of creating jobs in the West Bank and Gaza Strip. ICF targets both existing and newly established enterprises which require investment and are initiated by individuals, investment groups, companies, and cooperatives. Women applicants are strongly encouraged to apply. The ICF is intended to be used to complement other financial instruments such as loans and private investors’ equity, to maximize the impact of investments and should not exceed 30% of the total project investment size. The exact amount of the F4J ICF grant support will be discussed based on project’s requirements of capital expenditures (CAPEX) and operating expenditures (OPEX) and funds availability presented in the investment proposal/business plan.
Eligibility Criteria for Investment Application
The investment project sector falls under one of the following categories: agribusiness, tourism, information technology, light manufacturing and renewable energy within jobs generating investment (not stand-alone solar project).
The investment project will be in West Bank and Gaza.
Applicants should hold an appropriate business license, registration, and be tax compliant.
Investment projects are abiding to the International Labor Organization (ILO) declaration on fundamentals principles and rights at work.
The ICF will complement the capital investment and bridge the financing gap of the investment project.
The total project investment is at least one million dollars.