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Add to Preferred SourcesThe World Bank approved a US$30 million development policy grant to support the Palestinian Authority’s reform program in strengthening fiscal resilience and creating an environment conducive for private investment and job creation.
The grant program Strengthening Fiscal Resilience and Business Environment Development Policy will continue to support to the Palestinian Authority’s implementation of the Palestinian National Policy Agenda 2017-2022 with emphasis on improving government transparency of fiscal transfers to local service providers in key sectors while reducing the fiscal drain on the Palestinian Authority’s budget. Increasing the fiscal stability of the electricity, water, and health sectors will, in turn, build the confidence of potential investors and lay the foundation for improved private sector activities.
This is the ninth in a series of development policy grants, totaling US$340 million, of budget support grants for public sector governance and transparency reforms.
“While the new grant will continue to support progress to improve the Palestinian Authority’ s service delivery in energy, water and health, it is also essential to modernize and improve the legal and regulatory business environment to attract investors and entrepreneurs and to build on a new reform momentum in land administration and cashless mobile payments,” said Damir Cosic, World Bank Senior Economist.
The World Bank will continue to collaborate with other donors, especially through the multi-donor fund administered by the Bank on key issues considered critical for reform. Recently, France and Norway contributed a total amount of about US$26 million to implement policies supported by the World Bank’s Development Policy Grant.
Original source: World Bank
Published on 07 February 2019