(MENAFN) The World Bank said that as part of its efforts to support Palestine, the bank would advise its Board of Governors to approve a replenishment of USD55 million to the Trust Fund for Gaza and the West Bank, reported Gulf News.
The WB added that its institutions, including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) would work together to help create the appropriate environment that enables the country's private sector to grow.
It also said that the Palestinian financial situation is getting worse in spite of the efforts aimed at lowering expenditures and boosting revenues, due to the system of restrictions on access to land, water and export markets.
It is worth noting that the World Bank and its institutions work with the Palestine government to help it achieve its financial independence, enhance local government, cut poverty and create economically sustainable infrastructure.
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