IDB finances housing and infrastructure support project in Jerusalem
Jerusalem (IINA) – The Palestinian Housing Council (PHC) and Islamic Development Bank (IDB) signed on Monday an agreement worth $3 million to finance housing and infrastructure support project in the occupied city of Jerusalem.
The agreement was signed by Engineer Hisham Al Omari, PHC representative, and Adviser Hani Abu Diab, representative of IDB which manages Al-Aqsa Fund.
Al Omari said this agreement comes within the context of enabling the groups with construction licenses to enter, within a year (a maximum period determined by Jerusalem’s official circles), into actual implementation. It will also enable the groups, which are listed in official cooperative associations for housing in Jerusalem, to complete the interior finishing works. He pointed out that 285 Jerusalemite families composed of 1,400 people will directly benefit from this deal.
Al Omari added that this agreement would achieve many goals, chiefly, encouraging the Jerusalemites to work collectively through housing cooperatives. This will facilitate licensing procedures, reduce fees and provide an opportunity for low-income families to improve their economic circumstances, as well as contributing to combating poverty and improving the social and economic situation of the beneficiaries and the local community.
Al Omari expressed thanks and gratitude, on behalf of PHC Board of Directors, to the IDB for its significant role in supporting housing projects, especially in Jerusalem city, and for the bank’s trust in the Palestinian Housing Council for the implementation of projects through these agreements.