The World Bank Vice President for the Middle East and North Africa, Ferid Belhaj, said on Wednesday after completing a three-day visit to the occupied West Bank that the World Bank will continue to provide budget support to the Palestinian Authority (PA).
Belhaj’s visit to Palestine was aimed at reviewing first-hand the territory’s current economic and social challenges.
Accompanied by Merza Hassan, Dean of the World Bank’s Board of Executive Directors, Belhaj visited project sites and met with Prime Minister Rami Hamdallah, Minister of Finance and Planning Shukri Bishara, Minister of Local Government Hussein al-Araj, and Head of the Palestinian Water Authority Mazen Ghneim.
Belhaj also met with met with representatives of the private sector and young entrepreneurs to discuss the role of the private sector as potential partners with the PA and a source of investments to stimulate the territory’s stagnant economy and create jobs.
The World Bank said in a statement that The moribund economy has led to increasing unemployment which has left almost half of West Bank and Gaza’s youth without jobs.
The World Bank has dedicated a significant portion of its financial assistance and operations to supporting vulnerable people, including in Gaza, and ensuring the provision of basic services, including in water, sanitation, and energy explained the press release.
Source: Palestine Chronicle