Washington, December 23, 2014 – The World Bank transferred today an amount of about US$31.6 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, the United Kingdom, and Norway will help support the urgent budget needs of the Palestinian Authority (PA), providing inter alia support for the economic reforms currently underway and assistance for Gaza emergency needs.
The World Bank PRDP Trust Fund was established on April 10, 2008, through an agreement signed between the World Bank and the Palestinian Authority. It is a central component of a World Bank’s effort to support the ongoing Palestinian Reform and Development Plan. Currently, the PRDP-MDTF donors are the governments of Australia, France, Japan, Kuwait, Norway, the United Kingdom.
With the new tranche release, the PRDP-MDTF will have disbursed about US$1.28 billion.