Washington, June 24, 2010 -- The World Bank Board of Executive Directors approved today a proposal to provide $55 million in funding for projects in the West Bank and Gaza (WBG) to support Palestinian economic recovery and development.
The funding will be channeled through the Trust Fund for the West Bank and Gaza and will support projects in water and sanitation, land administration, social services, NGO development and public sector capacity building. A central component is designed to shore up the Palestinian Reform and Development Plan (PRDP.)
In addition, the Board voted to expand the WBG portfolio and to launch both the Teacher Education Improvement Project and the Capacity Building for Palestinian Economic and Regulatory Institutions Project.
“The Bank is committed to continue its backing for local reformers, as they build systems capable of providing sustained delivery of high quality services to the Palestinian people,” said Mariam Sherman, Country Director for West Bank and Gaza. “The two new projects are part of an effort to expand our support for Palestinian institution building and human capital development, both in the public sector and in civil society.”
The Teacher Education Improvement Project of US$5 million will provide support to teacher training institutions in improving teacher education programs and to line units of the Ministry of Education and Higher Education (MoEHE) on general project management and implementation, including procurement and financial management.
“It is critical to introduce policy changes geared towards capitalizing on the achievements of the rapid expansion of the education system, with an increased focus on quality,” said Ernesto Cuadra, Lead Education Specialist.
The Capacity Building for Palestinian Economic and Regulatory Institutions Project of US$3.7 million will support the Palestinian Authority’s (PA) effort to strengthen economic management and regulatory capacity through the development of key public institutions: The Palestinian Central Bureau of Statistics (PCBS), the Palestinian Monetary Authority (PMA), and the Palestinian Pensions Authority (PPA).
“This project sets an important precedent for the efficient delivery of aid that is fully coordinated with Government priorities and systems, to avoid creating multiple uncoordinated technical assistance projects,” said Douglas Pearce, Senior Private Sector Development Specialist.