The Monetary Authority, in collaboration with the Ministry of Labor, launches the second phase of the "Bader" program to finance workers with an amount of 40 million shekels

SadaNews - The Monetary Authority, in cooperation with the Ministry of Labor, launched the second phase of the "Bader" program to finance workers who lost their jobs inside the Green Line, with a total financing amount of up to 40 million shekels.

Today, Wednesday, at the headquarters of the Monetary Authority, the announcement of the launch of the second phase of the program took place, attended by His Excellency the Governor of the Monetary Authority, Mr. Yahya Shanar, Her Excellency the Minister of Labor, Dr. Inas Attari, Deputy Governor Mr. Muhammad Munasra, Assistant Undersecretary Rami Mahdawi, and several department directors from both sides.

The launch of this program comes based on the directives and instructions of President Mahmoud Abbas and Prime Minister Dr. Mohammad Mustafa, as it targets in its second phase workers who lost their jobs inside the Green Line and in settlements, as well as workers who lost their jobs in the West Bank, to assist them in establishing or developing their existing projects, allowing beneficiaries to obtain financing from banks and lending institutions without bearing any costs or interests.

His Excellency the Governor of the Monetary Authority, Mr. Yahya Shanar, stated that the launch of the second phase comes as a direct response to the difficult living and economic conditions that our people, especially the workers who lost their job opportunities, are facing. He pointed out that the program allows workers to obtain facilitative loans without interests that enable them to start their own projects, in addition to assisting loan beneficiaries through training and rehabilitation programs provided by the Monetary Authority through its "Manashti" platform, and through the employment offices affiliated with the Ministry of Labor, thus helping beneficiaries to establish successful and productive projects.

The Governor clarified that this phase will be implemented through injecting an amount of 40 million shekels, which is added to the first phase that amounted to 30 million shekels, bringing the total funding portfolio allocated for lending to workers to 70 million shekels. The Monetary Authority is ready to increase the size of the portfolio according to the demand size in the near future.

Shanar emphasized the Monetary Authority's efforts to launch financing programs through the Sustainability Fund, targeting various segments of society, reflecting the commitment of the Monetary Authority to support the resilience of citizens and enhance their ability to face economic challenges, emphasizing the continuation of work on developing innovative financing tools that contribute to expanding the financial inclusion base and enhancing economic development and financial stability.

For her part, Minister of Labor Dr. Inas Attari confirmed that the program aligns with the Palestinian government's goals to reduce unemployment rates and empower economically affected groups, by transitioning from unstable job opportunities to productive and sustainable entrepreneurial projects within the local market.

Dr. Attari added that the government is working on integrating economic and financing policies that enhance self-employment opportunities and support the resilience of workers and their families, noting that "Bader" is more than a financing program; it is a national vision for gradual economic liberation and an investment in dignity before money, and an open invitation to every worker to become a project owner, an opportunity creator, and a partner in development.

The Monetary Authority called on those wishing to benefit from the program to submit their applications through the "Manashti" platform, which allows them to apply for financing and follow up on their requests electronically, thereby facilitating procedures and expediting the review of applications, and ensuring that financing reaches the targeted groups.