A €400 million financing facility for Palestine was established during a ceremony in New York, aimed at improving access to finance for SMEs and mid-cap companies. This is part of a larger €1.6 billion EU initiative from 2025 to 2027. European Commissioner Dubravka Šuica emphasized the EU's commitment to revitalizing the Palestinian economy and highlighted the growing international recognition of Palestinian statehood, while also addressing concerns over Hamas and the need for cooperation between Palestinians and Israelis.