On 12 June 2020, the World Bank approved a US$15 million grant for the Technology for Youth and Jobs (TechStart) Project aiming to help the Palestinian IT sector upgrade the capabilities of firms and create more high-quality jobs. Kanthan Shankar, World Bank Country Director for West Bank and Gaza said "The IT sector has the potential to make a strong contribution to economic growth. It can offer opportunities to Palestinian youth, who constitute 30% of the population and suffer from acute unemployment."