(MENAFN- Kuwait News Agency (KUNA)) Kuwait Tuesday donated USD 15 million for the World Bank's Multi-Donor Trust Fund for Sustainable Logistics to support the Palestinian Authority's (PA) reforms and development program.
"Kuwait is always committed to improving the living conditions of the Palestinian people, and supporting the construction and development of a balanced Palestinian economy," Kuwait's Ambassador to the US Sheikh Salem Abdullah Al-Jaber Al-Sabah was quoted as saying in a statement by the World Bank, sent to KUNA.
Today's donation brings Kuwait's contribution to the fund since its establishment in 2008 to USD 295 million.
The donation aims at supporting economic reforms and addressing PA's budget deficit, specially in education, health care and services.
World Bank's vice president for the Middle East and North Africa Hafedh Ghanem signed the donation agreement on behalf of WB, and said the fund allowed partners to contribute to the development of PA institutions to provide services for the Palestinian people.
World Bank executive director Dr. Mirza Hassan said Kuwait's support would help address the ongoing PA's budget deficit and strengthen the financial administration of the public sector, as well as improving the business environment.
Australia, France, Japan, Norway, Britain and Kuwait have contributed to the Fund, with total funding amounting to USD 1.36 billion so far.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.