The PA is hoping to draw private investment into infrastructure projects, agriculture, IT, housing and industrial parks. It also plans to privatise the management of border terminals and ports, including Yasser Arafat International Airport in Gaza, for which Sinokrot said repair work would start soon. Cement and petroleum industries will also be privatised. OPEC, the World Bank, the Islamic Investment Bank, the European Investment Bank and the Palestinian Investment Fund will back a $250 million Investment Security Fund, which will offer insurance to investors against any deterioration in the security situation.

Sinokrot said the PA is also ready to submit its mid-term economic plan outlining 2006-07 to international donors for infrastructure projects, capacity building and budget support. ‘We hope donors come forward. Our needs are enormous,’ he said.