India and Palestine have signed a Memorandum of Understanding for setting up of Palestine-India Techo Park in Ramallah. The announcement of the Techno Park was made during President Pranab Mukherjee’s visit to Palestine last year.
India has announced grant of 12 million dollars for setting up the Park. Palestinian side has made the land available for the project.
Once completed, the Technopark will serve as an IT hub in Palestine with complete IT facilties offering a one-stop solution to all IT-related service requirements. It will also provide state-of-the-art technology, host IT companies and foreign companies benefiting local business, universities and other institutions.
The assistance is part of India’s strong commitment to Palestinian cause. The project will help job creation, business and other opportunities for young Palestinians.