World Bank to donate $55m. to West Bank, Gaza (JERUSALEM POST) By YONI DAYAN 04/08/12)
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The World Bank will donate $55 million to the Gaza Strip and the West
Bank, the international organization announced Friday.
“The Bank’s support will continue to focus on strengthening the
institutions of a future Palestinian state,” the organizations stated.
The $55 million will be transferred to the Trust Fund for Gaza and
the West Bank, pending approval from the Board of Governors. It will
be invested in promoting private-sector growth and strengthening
public institutions, in line with the Palestinian National
Development Plan for 2011-2013, the Bank stated.
“The Palestinian fiscal situation appears to be worsening despite
efforts to reduce expenditures and increase revenues. This is linked
to the system of restrictions on access to land, water and export
markets which imposes economic costs and constrains private sector
growth,” said Mariam Sherman, World Bank Country Director for West
Bank and Gaza.
The Bank has traditionally been critical of Israel´s policy towards
the Palestinians, stating last year that Israeli restrictions have
been making it difficult for the private sector to develop a self-
“We are supporting the authorities as they build institutions and
deliver services to citizens but this must be coupled with measures
to develop longer-term opportunities to unleash the vibrant
Palestinian entrepreneurial spirit,” Sherman said. (© 1995-2011, The
Jerusalem Post 04/08/12)
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