Historic Rise in Funding for Non-Profit Companies.. Tarek Al-Masri, Company Registrar, Discusses the Reasons and Oversight with SadaNews

Sada Economy - Sada Economy correspondent reported that Palestinian non-profit companies have recorded a historic increase in funding value during the first half of this year, amounting to approximately $122 million, a 90.6% increase compared to last year 2024, which recorded funding of only $64 million, according to official figures. It is worth mentioning that the funding for the Palestinian government reached about $400 million. Do non-profit companies compete with the Palestinian government?

The company registrar at the Palestinian Ministry of National Economy, Tarek Al-Masri, answered in his talk with Sada News, saying: "Non-profit companies do not compete with the government, whether profitable or non-profitable, because each specialist is in their field," explaining that "the government facilitates the work of non-profit companies in order to obtain more funding that is directed to the Palestinian citizen".

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About 39 non-profit companies benefited from this funding, including 13 companies in the Gaza Strip, out of a total of 318 registered non-profit companies in Palestine.

Regarding the reasons for the increase in funding value for these companies, Al-Masri continued during his conversation with Sada News, saying: "The main reason for the increase in funding rates is due to the difficult political and economic conditions faced by the Palestinian people, along with the registration of new companies through the facilitation and simplification of procedures by the current government".

Concerning ensuring transparency in the spending of this funding on beneficiaries, Al-Masri added to Sada News: "The non-profit companies present in the Gaza Strip operate within a narrow scope and in very difficult conditions, and therefore they provide us with periodic financial reports, in addition to our oversight on the ground within the available capabilities, in order to monitor the work of these companies, and ensure that the funding objectives are achieved".

He continued: "Most of the projects being implemented in the West Bank or Gaza Strip are related to community development, humanitarian and relief assistance, shelter, alongside some other activities related to reconstruction," stressing that they have not started yet as the procedures have not been completed.