October 31, 2016
India and Palestine signed the Memorandum of Understanding (MOU) for setting up of Palestine-India Techo Park in Ramallah on 31 October, 2016. During the visit of Hon’ble President of India to Palestine in October, 2015, the announcement for setting up of park was made. Government of India has announced grant of US$ 12 million for setting up the Park with payment of US$ 3 million each on half-yearly basis for 2 years. Palestinian side has made the land available for the project. Once completed, the Technopark will serve as an IT hub in Palestine with complete IT facilties offering a one-stop solution to all IT-related service requirements, providing state-of-the-art technology, hosting IT companies and foreign companies benefitting local business,Universities and other institutions.
The assistance is part of Government of India’s strong commitment to support Palestinian cause. The project will help job creation, business and other opportunities for young Palestinians.
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