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Home >> Business
UPDATED: 13:33, February 03, 2007
World Bank lends 25 million dollars to Palestinians
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The World Bank has agreed a 25 million dollar grant to West Bank and Gaza for emergency service and community Development needs, according to a statement released by the Bank on Friday.

Dr. Juan Jos Daboub, the World Bank's managing director and Rafiq Al-Husseini, chief of staff of the President of the Palestinian National Authority signed the agreement earlier Friday, said the statement.

"The World Bank's program in the West Bank and Gaza is designed as a response to alleviate the impact of the current situation on Palestinians. The focus of our technical and financial assistance is to facilitate the delivery of basic services to vulnerable families building on the institution's experience in similar situations," said Daboub.

The projects support access to basic social and economic services in poor and marginalized communities in the West Bank and Gaza, including solid waste collection, street lighting, wastewater and electricity services, health services.

They will also provide temporary job opportunities to unemployed Palestinians, and help sustain reliable mechanisms for delivery of emergency social services.

"The projects contribute to the immediate needs of communities in West Bank and Gaza as a result of the current situation," said Daniela Gressani, World Bank Vice President for the Middle East and North Africa Region.

"We will also support the capacity of local communities through job creation and collaborative initiatives that will provide the basis for long term sustainability of these services," she added.

Source: Xinhua


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