In response to the COVID-19 pandemic, the Bank has taken emergency action to support the Palestinian Authority’s relief and recovery efforts. In addition to redirecting ongoing projects to respond to the crisis, the Bank is supporting the Palestinian health response and supporting cash transfer and cash-for-work opportunities to protect vulnerable Palestinians in the West Bank who have fallen into poverty as a result of the pandemic. The Bank has also approved additional financing of ongoing projects to support sustainable business growth and job retention and to sustain essential municipal service provision, generate job opportunities for vulnerable households, and enhance preparedness of municipalities to respond to disasters and shocks, including health crises similar to COVID-19. A recently approved digital development project is also supporting Palestinian resiliency through enhanced connectivity.
The World Bank Group is developing a new strategy for the next four years in the West Bank and Gaza, aligned with the new Palestinian Authority’s National Development Plan (2021-2023): Steadfast Resilience, Disengagement, and Cluster Development towards Independence”. In the wake of the pandemic, the Bank will first support Palestinian resilience for macroeconomic stability, social protection, and maintaining solvency and employees of private sector firms. In parallel, the Bank will help strengthen operational capability and financial sustainability of Palestinian service providers, enhancing public trust in institutions.
The two focus areas of the World Bank Group’s assistance strategy are:
1. Strengthening Institutions for Socio-Economic Prosperity and Human Capital Advancement; and
2. Catalyzing Innovation and Diversification for a well-connected Palestinian Economy.
The World Bank’s program is underpinned by extensive and consequential analytical work. The Bank has been examining a comprehensive approach that would allow for greater sustainability of service delivery by improving the operations and maintenance of infrastructure. This work aims to help the PA to meet the needs of its citizens, while improving creditworthiness of Palestinian institutions that can lay the foundation for private sector participation.
Last Updated: Jun 03, 2021