Washington, July 3, 2012 – The World Bank transferred on June 28, 2012 a US$22.3 million to the Palestinian Authority from the Palestinian Reform and Development Plan Trust Fund (PRDP-MDTF), a multi-donor budget support mechanism administered by the Bank.
The funds contributed by the governments of Australia and the United Kingdom will help support the urgent budget needs of the Palestinian Authority (PA), providing inter alia support for education, health care and other vital social services for the Palestinian people and for the economic reforms currently underway.
The World Bank PRDP MDTF 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. It is a central component of a World Bank effort to support the ongoing Palestinian Reform and Development Plan and the National Development Plan. Currently, the PRDP-MDTF donors are the governments of Australia, France, Kuwait, Norway, and the UK.
With the new tranche release, the PRDP-MDTF will have disbursed US$834 million.