The amount is in addition to the $180m that Kuwait has provided to the PRDP World Bank-administered multi-donor trust fund since 2008.
The agreement was signed by Sheikh Salem Abdullah Al-Jaber Al-Sabah, Ambassador of Kuwait in Washington, and Inger Andersen, World Bank Vice President for the Middle East and North Africa region.
“The state of Kuwait considers the budget support to the PA crucial in order to ensure the social and economic well-being of its citizens,” said Al-Sabah.
“The state of Kuwait is, and will always remain, steadfast in its support to the Palestinian people.”
The contribution will help support urgent budgetary needs facing the Palestinian Authority on education, healthcare and other vital social services.
“The PRDP Trust Fund is central in supporting Palestinian reforms and development plans and we are grateful to the State of Kuwait for their contribution,” said Andersen.
“The World Bank’s involvement in supporting and monitoring the reform efforts will strengthen the PA’s capacity to sustain a number of significant reforms introduced to date and to bolster further progress.”
The World Bank PRDP Trust Fund was established on April, 2008 through an agreement signed between the World Bank and the Palestinian Authority.
It is a central component of the World Bank’s effort to support the ongoing Palestinian Reform and Development Plan.
In addition to Kuwait, the governments of Australia, France, Norway, and the UK regularly contribute to this Fund.
With the new contribution from Kuwait, the trust fund will reach nearly $900m, of which approximately $850m have already been disbursed.
