World Bank Grants $14 Million for Energy Sector in Palestine

Jerusalem, MINA – The World Bank issued a $ 14 million grant to the Program for Promoting Sustainability in Energy Performance, Infrastructure and Reliability (ASPIRE) in Palestine.

The fund supports a $ 49 million grant from the Partnership Multi-Donor Trust Trust Fund for Infrastructure Development (PID MDTF) to improve the operational and financial performance of the energy sector. Thus quoted from Smart Energy on Thursday, May 7.

The project will also help Palestine to diversify its energy sources and as part of. Energy Security for World Bank Development initiative.

The grant will promote sustainable funding of energy projects and policy reform measures.

The grant is also to build new infrastructure and modernize distribution and transmission lines to improve network reliability.

The program ensures funding of solar energy projects in the West Bank and Gaza is supported by female engineers and entrepreneurs through private sector participation.

“Demand for power in the West Bank and Gaza faces severe challenges with electricity supply. This program approach is a collaborative model between the World Bank, Palestinian authorities and donor partners, “said Kanthan Shankar, World Bank Director for the West Bank and Gaza. (T/RE1)

Mi’raj News Agency (MINA)