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Source:
9 June 1997

PRESS RELEASE
News Release No. 97/1381 MENA


WORLD BANK APPROVES $8.5 MILLION CREDITS FOR WEST BANK AND GAZA LEGAL DEVELOPMENT, PALESTINIAN EXPATRIATE PROJECTS

WASHINGTON, June 9, 1997 — The World Bank has approved two credits for the West Bank and Gaza: a Legal Development Project of $5.5 million equivalent, to assist the Palestinian Authority in putting in place a legal framework that would increase the efficiency of the judicial process and be conducive to private sector development; and a Palestinian Expatriates Professional Program Project of $3 million equivalent, to attract Palestinian professionals abroad to help manage departments in Palestinian Authority ministries and agencies or to serve in senior technical positions.

The West Bank and Gaza Legal Development Project aims at unifying and modernizing the West Bank and Gaza's legal frameworks. It calls for the drafting of a unified set of modern business laws and the improvement of court administration, as well as the training of judges, prosecutors, and court personnel.

Arbitration and mediation programs will be financed under the project, as will the dissemination of legislation within the legal community and the public at large. By equipping the judiciary with the requisite know-how and suitable facilities to handle modern business transactions, the project aims to help remove a serious obstacle to foreign investment.

The West Bank and Gaza Palestinian Expatriate Professional Program project will aim to recruit skilled and experienced Palestinian expatriates over the next three years to fill managerial positions in the ministries and agencies of the Palestinian Authority. About 150 Palestinian professionals are expected to be recruited under the project, which will finance their relocation allowances.

The $5.5 million credit and the $3 million credit equivalent are on IDA terms, from the Trust Fund for Gaza and West Bank, each with a 40-year maturity, including a 10-year grace period.




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Contacts:
Jeannie Yamine (202) 473-2318
Fax: (202) 522-0003

To obtain project documents please contact the World Bank's Public Information Center (PIC)
at tel: 202-458-5454, fax: 202-522-1500, email: pic@worldbank.org




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