Opportunities and Constraints of Development Finance in Palestine: Case Study: Jericho Agro Industrial Park رسالة ماجستير

Abstract

Free zones, industrial parks, and eco industrial parks are some of the elements that make up a country's economy. Industrial parks are areas that are set aside for the development of certain economic activities. They are considered as vital factors that support economic development, as they help in curbing environmental pollution and stimulate various industries. This paper aims to analyze the various opportunities and constraints of development finance in Palestine through the case study of Jericho Agro Industrial Park- JAIP and the effect of access to finance in its development This study is the first of its kind that's focused on the development finance of industrial parks in Palestine. The lack of awareness about the importance of development finance in Palestine undermines the country's efforts to attract foreign investors. This study aims to analyze the various factors that affect the development finance of emerging economies. It will also discuss the current situation regarding the and access to finance, through shedding the light on one of the national projects in Palestine, JAIP. Despite being supported by the Japanese Government, JAIP is not able to attract international and national investors due to various factors. These include the country's lack of infrastructure, supportive regulations, as well as the lack of access to finance which will be further explained throughout the study. The study used the quantitative and qualitative approach through analyzing the financial statements of JAIP and through conducting open ended structured interviews with the relevant stakeholders’ representatives. Moreover, this paper noted that the lack of access to finance affected the development of JAIP and delayed the developmental projects planning and implementation. The study also noted that it is possible that the developers of industrial parks in Palestine may not be able to secure the necessary capital for their projects due to the delays and difficulties they have faced in accessing loans. In other words, the lack of access to development finance can also affect the operations and development of industrial parks. This issue could create a negative impact on the projects' expected benefits. Further analysis will be represented throughout this research