By NNN-KUNA,
Washington : Kuwait has signed an agreement with the World Bank to transfer a USD 80 million contribution to the bank-administrated fund to support the ongoing Palestinian Reform and Development Programme (PRDP).
“Its so important to ensure the basic needs of the Palestinian people during a most difficult period,” said Kuwaiti Ambassador to Washington Sheikh Salem Abdullah Al-Sabah after the signing of the agreement with World Bank managing director Juan Jose Daboub here Monday.
Sheikh Salem Al-Sabah expressed “the appreciation of Kuwait for the work of the World Bank in the West Bank and Gaza.”
“This generous contribution is timely to maintain the momentum of reforms that are being introduced by the Palestinian Authority which will also allow the continuation of vital social services,” said Daboub.
“The Kuwaiti contribution will allow total transfers from trust fund and linked World Bank funds to reach USD 275 million. These resources will help support the urgent budget needs of the Palestinian Authority, providing support for education, health care and other vital social services for the Palestinian people and for the economic reforms currently underway,” he added.
The World Bank PRDP trust fund was established on April 10, 2008 when an agreement was signed between the World Bank and the Palestinian Authority during the 2008 World Bank-IMF spring meetings in Washington.
The fund is the central component of the World Bank’s effort to support the ongoing Palestinian Reform and Development Plan which has received contributions from Norway, Australia, Britain, France and Finland while contributions from Canada, Poland and a second contribution from Britain are now under process in addition to the current Kuwaiti contribution.
According to the World Bank statistics, USD 148 million has already been disbursed from this fund and from associated World Bank resources.