ANNUAL REPORT Annual Report Index
ANNUAL REPORT Annual Report Index 11 About PIF Message from the 12 Governance President of the State of Palestine 04 14 Board of Directors 18 General Assembly Chairman’s Message 22 Investment Portfolios 06 56 Palestine for Development Foundation 60 Financial Statements Palestine Investment Fund 4 Annual Report 2016 5 The last 10 years bear witness to PIF’s re- markable growth and its role in building the foundations of an independent national econ- omy for the independent Palestinian state. In 2016, PIF delivered another year of stellar per- formance, which included laying the cornerstone for the Palestine Cement Plant, inaugurating the Jenin Power Plant, implementing youth employ- ment programs, as well as achieving remarkable progress in the fields of health, agriculture, small and medium enterprises, real estate and renewable energy, and others. PIF is a source of pride for all Palestinians, with its commitment to the highest levels of integrity, trans- parency and good governance. I cannot but express my sincere appreciation to PIF, represented by its Chairman, members of the Board of Directors and General Assembly, executive manage- ment and staff. I wish PIF continued success in its efforts to build the economy of an independent Palestinian state with Jerusalem as its capital. Yours, Mahmoud Abbas President of the State of Palestine Palestine Investment Fund 6 Annual Report 2016 7 Chairman’s Message Dr. Mohammad Mustafa Chairman of the Board The Palestinian economy remains stunted by the Israeli occupation and its unjust policies. Rampant settlement expansion, restricted access to our natural resources, and restricting the freedom of movement Al Bireh, Qalqilia and Tubas to construct solar power empowerment of JDECO as it is the largest operating of people and goods have left the Palestinian economy in a fragile state.
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