The World Bank has approved USD40 million worth of budget support to help the Palestinian Authority strengthen its fiscal position and increase transparency and accountability within its ranks.
The new grant brings to USD120 million the World Bank’s total budget support to the Palestinian Reform and Development Plan, which guides the building of the fundamental blocks of a future Palestinian state, according to a World Bank press release.
Meanwhile, the U.N. Relief and Works Agency for Palestinian Refugees in the Near East has asked Arab countries to increase their financial support for the agency’s operations, Reuters says.
“Arab donors, we ask that … you raise the level of your contributions to our core activities, especially health, education and poverty relief,” UNRWA Commissioner-General Filippo Grandi told a gathering of Arab League foreign ministers in Egypt, as quoted by Reuters.
Grandi added that the UNRWA is experiencing a “serious financial crisis” that is undermining their efforts to fully support Palestinian refugees that have settled in Arab countries. The agency needs USD80 million to support its operations until the end of 2010, he explained.