Padico plans two funds
Palestine Development & Investment Company (Padico) plans to launch two new funds in Gaza and the West Bank. It will take a 1020 per cent stake in each of the two funds, which will then be converted into companies. The Gaza fund will be worth $400 million while a fund for the north of the West Bank will be worth $60 million. A third company is planned for the southern West Bank. The three companies will finance development and construction projects and generate employment opportunities in the Palestinian territories.
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