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Bush sends high level US officials to Bethlehem conference

22 May 2008

The following article is from Abbas's terrorist organization news agency and should be accepted as terrorist propaganda only:

Bethlehem - President Bush has sent a delegation of high level US officials and private sector leaders to represent the United States at the Palestinian Investment Conference in Bethlehem, May 21-23. The Presidential Delegation is headed by Deputy Secretary of Treasury Robert M. Kimmitt and the President and CEO of the Aspen Institute, Mr. Walter Isaacson. Kimmitt, who spoke at the opening session, reaffirmed that the establishment of a stable, prosperous Palestinian state is a U.S. priority. Kimmitt added that there is strong international consensus to work together to improve the economic prospects for the Palestinian people and he praised Prime Minister Fayyad's Reform and Development plan, noting that the Palestinian Authority has already made “tremendous progress in creating an environment to foster private investment.”

Deputy Secretary Kimmitt highlighted specific examples of U.S. public and private sector assistance to the Palestinians and added that this year, the United States will provide more than $500 million in assistance to the Palestinians, including direct budget support to the Palestinian Authority and support for economic growth, democracy and governance, food assistance, education, health and water systems.

Aspen Institute CEO Walter Isaacson emphasized the importance of public-private partnerships to build strong economies. Isaacson, who is Chairman of the U.S.- Palestinian Public Private Partnership, noted that the Partnership is working with the Palestinian Authority to develop quick-impact projects to create jobs for Palestinians, including an Arabic-language call center and five youth development and resource centers.

The delegation expressed its appreciation for the support of the U.S. business community for the Palestinian Investment Conference. Major U.S. technology firms Cisco and Intel sponsored the conference and numerous other companies, representing a wide cross-section of the U.S. business sector including banking, technology, manufacturing, and food imports, participated. Isaacson noted that he hoped the connections made between Palestinian businesses and their U.S. counterparts at the conference would spur a new round of U.S. investment in the West Bank economy.

In support of investment in the West Bank, the U.S. is announcing a series of important initiatives at the conference. OPIC President Robert Mosbacher Jr. will announce a Political Risk Insurance Project that will help provide insurance coverage to Palestinian exporters and investors in the West Bank against costs associated with trade disruption. Mosbacher will also announce an investment in the Friends School in Ramallah-El Bireh. Mosbacher highlighted the success of two ongoing U.S. public-private projects launched by the Overseas Private Investment Corporation (OPIC) with its Palestinian partners, a $500 million housing mortgage facility and a $228 million loan guarantee program for Palestinian small and medium-sized businesses.

U.S. Trade and Development Agency Director Larry Walther will announce his agency's support for a Palestinian private sector wireless project that will provide the ten largest cities in the West Bank with broadband wireless connection to the Internet.

U.S. Consul General Jake Walles noted that the size and composition of the Presidential Delegation reflected the strong U.S. commitment to support the Palestinian Authority's efforts to strengthen the private sector. “The involvement of so many different parts of the U.S. Government, including the Departments of Treasury and Commerce,” said Consul General Walles, “underscores our commitment to support the process of political negotiations with tangible economic improvements in the lives of Palestinians.”

The Consul General added that he was confident that U.S. businesses would find opportunities with their Palestinian counterparts for mutual success. A businessman from California summed up the group's experience in his statement, “I boarded my plane in the United States not quite knowing what to expect. Now, after learning more about investment opportunities and meeting several potential Palestinian business partners, I can honestly say that I strongly endorse the conference motto, 'You can do business in Palestine.'”