India and Palestine on Monday signed a MoU for setting up a Palestine-India Techno Park in Ramallah. During the visit of President Pranab Mukherjee to Palestine in October last year, the announcement for setting up of park was made.
India has announced a grant of $12 million for setting up the park with payment of $3 million each on half-yearly basis for two years.The Palestinian side has made the land available for the project.President of India, during his 2015 visit to Palestine announced five projects with regards to solidarity with Palestinian crisis. These projects includes a Techno Park in Ramallah ($12 million), Palestine Institute of Diplomacy ($4.5 million), and India-Palestine Centre of Excellence in ICT in Gaza ($1 million).
Source- The Hindu