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| World Bank Headquarters in Washington, DC [PHOTO: Shiny Things] |
Washington: Kuwait has contributed a US$50 million to support the
ongoing Palestinian Reform and Development Program (PRDP). This amount is in
addition to the $180 million that Kuwait provided to the PRDP World
Bank-administered multi-donor trust fund since 2008.
The agreement was signed by Sheikh Salem Abdullah Al-Jaber
Al-Sabah, Ambassador of Kuwait in Washington, and Inger Andersen, World Bank
Vice President for the Middle East and North Africa region. Merza Hasan, World
Bank Executive Director and Dean of the Executive Board witnessed the signing.
“The State of Kuwait considers the budget support to the PA
crucial in order to ensure the social and economic well-being of its citizens,”
said Ambassador Al-Sabah. “The state of Kuwait is, and will always remain,
steadfast in its support to the Palestinian people.”
The contribution will help support urgent budgetary needs -
the Palestinian Authority (PA) is facing, providing inter alia support for
education, health care and other vital social services for the Palestinian
people and for the economic reforms currently underway.
“The PRDP Trust Fund is central in supporting Palestinian
reforms and development plans and we are grateful to the State of Kuwait for
their contribution,” said Andersen. “The World Bank’ s involvement in supporting and monitoring the reform
efforts will strengthen the PA’s capacity to sustain a number of significant
reforms introduced to date and to bolster further progress.”
“The contribution from the State of Kuwait is highly
significant and timely given the fiscal challenges that the PA faces. It will
ensure continuity of its institution-building and better public service
delivery reforms,” said Merza Hasan.
The World Bank PRDP Trust Fund was established on April 10,
2008, through an agreement signed between the World Bank and the Palestinian
Authority during the 2008 World Bank-International Monetary Fund Spring
Meetings. It is a central component of the World Bank’s effort to support the
ongoing Palestinian Reform and Development Plan. In addition to Kuwait, the
governments of Australia, France, Norway, and the UK regularly contribute to
this Fund. With the new contribution
from Kuwait, the trust fund will reach nearly US$900 million, of which
approximately US$850 million have already been disbursed.
Notably, the World Bank has contributed $160 million of its own
resources (through four Development Policy Grants) to support the budget of the
Palestinian Authority.