U.N.: Palestinians ask United Nations to accept them as member state

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After nearly 20 years of failed peace talks, Palestinians asked the United Nations on Friday to accept them as a member state, defying U.S. and Israeli opposition.

“The goal of the Palestinian people is the realization of their inalienable national rights in their independent state of Palestine,” Palestinian President Mahmoud Abbas told the U.N. General Assembly

World Bank offers loans to entrepreneurs in Palestine

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The Riyadh-based International Finance Corporation (IFC), a member of the World Bank Group, is to give an SR11 million loan to support entrepreneurs and create jobs in the Palestinian territories.

“The World Bank is supporting micro and small businesses and encouraging job creation in the Palestinian territories through the loan to Palestine for Credit and Development — known as Faten — a leading microfinance institution,” said Walid Almurshed, head of IFC Saudi Arabia and Investment Principal in the Middle East, North Africa and East Europe.
Faten had more than 12,000 clients, of which 80 percent are women, and a total outstanding portfolio of SR90 million.
“With IFC’s help, Faten plans to reach 22,000 customers and develop a net outstanding portfolio of SR123 million by 2015,” Almurshed said.
IFC’s loan will help Faten expand its outreach in West Bank and Gaza, where 80 percent of employment is generated by micro, small and medium enterprises.