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12 April 2008
World Bank Continues Support for the Palestinian People
Agreement Signed for Budgetary Support to Sustain Public Services
Press Release No:
Dina El Naggar (202) 473-3245
WASHINGTON DC, April 12, 2008
- The World Bank yesterday signed a Grant Agreement with the Palestinian Authority for the Palestinian Reform and Development Plan multi-donor budget support Trust Fund (PRDP-TF). This agreement reflects the Bank’s support for the Palestinian people, who are weathering adverse circumstances.
The signing took place following
discussions at the World Bank Headquarters between the World Bank Managing Director Juan Jose Daboub and Palestinian Minister of Planning H.E. Mr. Samir Abdallah.
The PRDP-TF is part of the overall donor effort to alleviate the Palestinian fiscal crisis and to support implementation of the Palestinian Reform and Development Plan which was presented on December 17, 2007.
The Government of Norway and the UK Department for International Development (DFID) contributed the currently available PRDP-TF funds totaling $83.8 million. These funds will be disbursed to the Palestinian Authority by end of April 2008. Additional contributions to the fund have been pledged and further disbursements are planned for later this year.
The Bank’s ongoing portfolio in West Bank and Gaza consists of 12 projects aiming at improving living conditions for the Palestinian people including water and sanitation, education, solid waste, municipal finance, provision of basic social services in addition to capacity building of the NGO sector.
For more information on the World Bank’s work in The West Bank and Gaza, please visit