Question of Palestine home
11 August 2008
Kuwait Contributes US80$Million to World Bank- administered Multi-donor Trust Fund in Support of Palestinians
Press Release No:
Tel: 202 473 3245
In West Bank:
Washington, August 11, 2008
World Bank Managing Director Juan Jose Daboub
signed today an agreement with the
Ambassador of Kuwait in Washington H.E. Sheikh Salem Abdullah Al Jaber Al-Sabah
to transfer US$80 million to the World Bank-administered multi-donor Trust Fund to support the ongoing Palestinian Reform and Development Program (PRDP).
The Kuwaiti contribution will allow total transfers from trust fund and from the linked World Bank Funds to reach US$275 million. These resources will help support the urgent budget needs of the Palestinian Authority (PA), providing
support for education, health care and other vital social services for the Palestinian people and for the economic reforms currently underway.
This generous contribution is timely to maintain the momentum of reforms that are being introduced by the PA which will also allow the continuation of vital social services
Ambassador Al Jaber Al-Sabah
underlined the importance of ensuring that the basic needs of the Palestinian people were safeguarded during a most difficult period, and the appreciation of Kuwait for the work of the World Bank in the West Bank and in Gaza.
The World Bank PRDP Trust Fund was established on April 10, 2008, when an agreement was signed between the World Bank and the Palestinian Authority during the 2008 World Bank-IMF Spring Meetings in the World Bank Headquarters. It is a central component of a World Bank effort to support the ongoing Palestinian Reform and Development Plan. The governments of Norway, Australia, the UK, France and Finland have already contributed to this Fund, while contributions by Canada, Poland, and a second contribution from the UK are now in process, in addition to the
current Kuwaiti contribution. Approximately US$148 million has already been disbursed from this fund and from associated World Bank resources to date.
For more information on the World Bank’s work in the West Bank and Gaza,