USAID launches project to support Palestinian SMEs and startups as Pelosi meets Abbas

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US House of Representatives Speaker Nancy Pelosi met with Palestinian President Mahmoud Abbas in Ramallah on Thursday, as USAID launched its initiative to support Palestinian SMEs and startups.
The initiative, known as the Small and Medium Enterprise Assistance for Recovery and Transition Project (SMART), hopes to support Palestinian businesses hit by COVID-19.
According to USAID’s press release on the impact of the pandemic, “93% of businesses in the West Bank and Gaza reported a decrease in goods and service delivery, and at least 50% drop in sales.”
Building on $110 million US dollars of aid provided to Palestine by USAID in 2021, a further $40 million will be made available as part of the project, which will run until 2025.

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