The World Bank Board of Governors authorized the transfer of US$55 million to replenish the Trust Fund for Gaza and West Bank from which the World Bank has, since 1993, provided assistance amounting to US$970 million.
The World Bank has helped strengthen institutions of a future state while also helping build an economy that can create the jobs and opportunities needed by citizens. Forthcoming grants will continue to support investment in municipal services, water and sanitation, energy, as well as social protection, health and education.
“In the highly unpredictable operating environment, institution strengthening to build the foundation of a strong Palestinian administration and to improve service delivery has been central to the Bank's program,” said Steen Lau Steen Lau Jorgensen, World Bank Country Director. “In parallel, the Bank emphasizes private sector development as the key driver for economic and employment opportunities.”
Development assistance will balance short-term stabilization and reconstruction activities with operations and analysis that promote sustainable growth. The World Bank will maintain dialogue with the Palestinian authority and donors to develop longer-term opportunities to unleash the Palestinian entrepreneurial spirit, engine for growth with social justice.