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Statement October 5, 2021

Readout from World Bank Group President David Malpass’s Meetings with the Palestinian Authority

RAMALLAH, October 5, 2021—Today, World Bank Group President David Malpass held meetings with President Mahmoud Abbas, Prime Minister Mohammad Shtayyeh, and Finance Minister Shukri Bishara of the Palestinian Authority, and Dr. Feras Milhem, Governor and Chairman of the Palestine Monetary Authority.

President Malpass and the authorities discussed the World Bank Group’s support to the Palestinian Authority through World Bank trust funds and IFC. They also discussed the importance of peace and regional stability and critical reforms, including strengthening governance, transparency and rule of law, and promoting integrity in the financial sector.

President Malpass commended the authorities for approving the recently-signed Companies Law and Telecommunications Law. President Malpass encouraged rapid implementation of both laws, which will be critical to advance a modern legal and regulatory framework, enable growth, and help boost the digital economy.

President Malpass and the authorities discussed the importance of enhancing regional cooperation and connectivity, including in energy and the digital economy.

President Malpass encouraged the authorities to promote fiscal sustainability and minimize further build-up of direct and indirect exposure. They also discussed cross-border payments and the upcoming MENA-FATF visit to the West Bank and Gaza as part of its Mutual Evaluation.