The World Bank on Friday endorsed a new assistance strategy for Palestine and approved $62 million in grants for post-war reconstruction in the Gaza Strip.
In a statement, the bank said its new strategy would focus on supporting state-building through service delivery and job creation.
“The Strategy will balance short-term stabilization and Gaza reconstruction activities with operations and analysis that promote sustainable growth,” Inger Andersen, the World Bank’s vice president for the Middle East and North Africa, said in a statement.
“Despite the challenging circumstances, the World Bank Group remains committed to contributing to the efforts of Palestinian people as they put in place the fundamentals of a future state. We are keen on developing longer-term opportunities to unleash the Palestinian entrepreneurial spirit, engine for growth with social justice.”
According to the statement, the projects will include $41 million in budget support to the Palestinian Authority and $21 million toward the reconstruction of Gaza infrastructure.
“Gaza which is one of the most densely populated places on earth was already suffering from economic and social hardships before the most recent war and this has resulted in an unfolding human tragedy and physical destruction that requires immediate mitigation measures,” said Steen Lau Jorgensen, World Bank country director for the West Bank and Gaza.
“The World Bank emergency response will support the Palestinian Authority with budget financing and urgent finance for infrastructure needs in the energy, water, and urban sectors. It is very important that other donors step up to provide support that is critically needed.”
(Ma’an – www.maannews.net)