WORLD BANK TRANSFERS $31,6 MILLION TO PA

The World Bank

Washington, 5 Rabi’ul Awwal 1436/27 December 2014 (MINA) – The World Bank transferred the sum of $31.6 million to the Palestinian Authority from the Palestinian Reform and Development Plan Trust Fund (PRDP-MDTF), a multi-donor budget support mechanism administered by the Bank.

The funds, contributed by the governments of Australia, the United Kingdom, and Norway are expected to support the urgent budget needs of PA, providing inter alia support for the economic reforms currently underway and assistance for Gaza emergency needs, Wafa News Agency quoted by Mi’raj Islamic News Agency (MINA) as reporting, Friday.

The World Bank PRDP Trust Fund was established on April 10, 2008, through an agreement signed between the World Bank and the Palestinian Authority.

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It is a central component of a World Bank’s effort to support the ongoing Palestinian Reform and Development Plan.

Currently, the PRDP-MDTF donors are the governments of Australia, France, Japan, Kuwait, Norway, and UK.

With the new tranche release, the PRDP-MDTF will have disbursed about US$1.28 billion.(T/P008/P3)

Mi’raj Islamic News Agency (MINA)