July 10, 2013 (TSR) – The government of Kuwait signed on Tuesday, an agreement with the World Bank for the donation of USD $50 million for the Palestinian Reform and Development Program (PRDP).
In this donation, an additional USD $230 million donated by Kuwait to The Multi-Donor Trust Fund (MDTF) administered by the World Bank.
Kuwait’s ambassador in Washington, Salem Abdullah Al-Jaber Al-Sabah, and the vice president of the World Bank’s Middle East and North Africa division, Inger Andersen, signed the agreement for the donation.
“Kuwait considers the budget support to the PA crucial, as ways of ensuring the social and economic well-being of the Palestinian citizens,” said Al-Sabah. He reiterated that Kuwait, “is, and will always, remain to be steadfast in its support to the Palestinian people.”
The World Bank said in a press statement, that the money will be used to maintain social services, education and health care.
For his part, Andersen said that the “PRDP Trust Fund is central in supporting Palestinian reforms and development plans and we are grateful to Kuwait for its contribution.” She added, “The World Bank’s involvement in supporting and monitoring the reform efforts will strengthen the PA’s capacity to sustain a number of significant reforms introduced to date, and to bolster further progress.”
World Bank Executive Director and Dean of the Executive Board Merza Hasan said, “Kuwait’s contribution is highly significant and timely given the fiscal challenges the PA is facing. It will ensure continuity of its institution-building and better public service delivery reforms.”
According to the World Bank, since its inception in April 2008, this fund has received $200 million from the World Bank’s private resources (within five donations for development) to support the PA’s budget.
