palestine investment overview 2014
DESCRIPTION
Week 4 Sunday SchoolTRANSCRIPT
May 22, 2014
POSITIVE INVESTMENT IN PALESTINE
Presbyterian mission context
The call for positive investment
Investment process
Initial Investments
Next Steps
WELCOME
PRESBYTERIAN MISSION CONTEXT
Middle East since 1823
Education, health, peace, justice and interfaith
Israel Palestine since 1948-1949
Refugee relief and resettlement, vocation and self development, education, peace and justice
PC(USA) MISSION CONTEXT
Israel has right to exist as sovereign state within secure, internationally recognized borders
Right of Palestinians to self-determination, including right to establishment of neighboring independent, sovereign state
Establishing a just and durable peace – and an end of occupation is essential to peace
CONSISTENT PC(USA) POSITION
In recognition of desperate situation caused by occupation
2004 – phased selective process of corporate engagement,
including possibility of divestment as last resort
2006 – investments only in peaceful pursuits – Directed Mission Agency to identify alternative investment
2008, 2010, 2012 – refined instructions regarding investments
CORPORATE ENGAGEMENT
THE CALL FOR POSITIVE
INVESTMENT
PC(USA) action will:
make a diff erence in the lives of those most vulnerable
preserve an eff ective witness to peace in the entire region
CALL FOR POSITIVE INVESTMENT
support collaboration
develop viable infrastructure
engage West Bank Christians
be invested in the West Bank
not include Israeli products
be duly vetted
result in sustainable economic development
be sponsored by Palestinians or
jointly by Palestinians and Israelis
INVESTMENT PROJECTS WILL...
be identified by joint delegation
confine business activity to peaceful pursuits
refrain from supporting or facilitating violence
against civilians, construction of settlements or
Israeli-only roads, the military occupation, and
construction of the Separation Barrier as it extends
beyond the 1967 “Green Line” into Palestinian
territories
promote respect for human rights, peace-building,
and equal employment opportunity
INVESTMENT PROJECTS WILL...
INVESTMENT PROCESS
Guided by General Assembly directives
Directed by the voice of congregations
Consulted with Cambridge Associates
Engaged consultants recommended by Cambridge with offi ces in Tel Aviv and Ramallah
Dozens of calls and two site visits
INVESTMENT PROCESS
INVESTMENT PROCESS
Sectors investigated:
Education
Micro-finance
Infrastructure
Renewable energy
Agriculture
Information Technology
Tourism/Hospitality
INVESTMENT PROCESS
Criteria:
Investment in West Bank owned/sponsored initiatives or companies
Economic development
Job creation
Peaceful pursuits
Palestinian investments must minimize or eliminate dependence on Israel or others
Transparency of use and impact
Direct engagement
INITIAL INVESTMENTS
Continuous Education Center Dar al-Kalima University College, Bethlehem
Construction loan for new building
Job-skills training in culinary arts and tour guiding
Two restaurants and state-of-the-art commercial training kitchen
Classrooms and offi ces
Conference center
$750,000 invested so far
INVESTMENT 1: EDUCATION
Microfinance Loan Facility The National Bank, Ramallah
Loans to start and grow small
businesses
Primarily women borrowers
Addresses high unemployment
$250,000 invested, leveraged to
$500,000
INVESTMENT 2: MICROFINANCE
Solar Energy Plant Arab Development Society, Jericho
More reliable energy source
Reduce energy expense
R&D and manufacturing facilities
$300,000 initial investment
INVESTMENT 3: RENEWABLE ENERGY
NEXT STEPS
Report progress to General Assembly
Open program to additional institutional investments
Explore possibility of Phase II investments
Connect Presbyterians with expertise to Palestinian businesses
NEXT STEPS
DISCUSSION / QUESTIONS