Palestinian Investment Fund Completes Largest Bond Issue in Palestine's History Worth 150 Million Dollars

SadaNews - The Palestinian Investment Fund announced its success in conducting the largest bond issuance in Palestine's history, valued at 150 million US dollars for a period of five years, with the participation of a group of local and regional banks operating in the Palestinian market.

This issuance is a qualitative milestone in the fund's journey towards enhancing its financial position and diversifying the sources of funding for its developmental and strategic projects, in line with its strategy for the next three years, which focuses on investing in vital sectors that support sustainable economic growth, including industrial infrastructure, energy, technology, healthcare, trade, agriculture, and enhancing national products by focusing on strategic industries.

Seven banks operating in Palestine participated in the subscription: the Palestine Bank, Arab Bank, Housing Bank for Trade and Finance, Cairo Amman Bank, Al-Quds Bank, Palestinian Investment Bank, and Jordan Kuwait Bank.

The issuance was executed by Ithmar Invest, which served as the financial advisor and issuance manager, while "Aziz, Fouad, and Rasha Shihadeh Law Firm" played the role of legal advisor to the fund, coordinating with the Palestinian Capital Market Authority at all stages of the issuance. Arab Bank - Palestine was appointed as the custodian and payment and registration agent for the issuance. The subscription was fully covered, reflecting the high level of confidence the fund enjoys within the Palestinian and regional banking sectors, affirming its solid financial position, effective management, and sustainable investments.

Mr. Iyad Joudah, Chairman of the Board of the Palestinian Investment Fund, stated: "This issuance represents a significant economic and investment achievement, reflecting the great trust placed by the banking sector in the Palestinian Investment Fund, both in terms of the strength of its financial position and its responsible and sustainable investment approach. The success of this issuance is a clear indication of the fund's ability to attract local and regional financing to implement its strategy for the years 2025 - 2027, aimed at investing in strategic projects that align with the needs of our people at present."

Joudah added: "This issuance comes as part of the fund's vision to enhance its developmental role by diversifying financing and investment tools, enabling it to move forward with implementing strategic projects that contribute to job creation and empower the Palestinian private sector. We take pride in the partnership with the banks participating in this issuance, and we appreciate their trust, reflecting a shared belief in the importance of investing in Palestine as a key driver for sustainable development."

Joudah concluded by affirming that: "The fund does not aim to compete with the private sector, but rather to empower it and enhance its capabilities by investing in sectors that require developmental intervention to lead them towards growth and stability. Through this issuance, we solidify our partnership with local banks operating in Palestine to lead and stimulate growth in productive sectors that have a direct impact on the lives of citizens."

The general assembly of bondholders held its first meeting with representatives from all participating banks, and a securities brokerage firm was elected as the issuance's custodian.