The World Bank announces four new projects in Palestine
In end of July 2017, the World Bank announced four projects in the Palestinian territories aimed at improving living conditions and expanding opportunities.
The allocated budget is of US$ 43 Million in Grants
- The Third Municipal Development Project will be funded by US$16 million from the World Bank and US$20 million donor co-financing form the Partnership for Infrastructure Development Trust Fund - administered by the World Bank
CES-MED municipalities are advised to apply under this action and build on their capacities for effective service delivery. There are three components to the project, the first component being municipal performance. The second component is the capacity development to municipalities, while the third focus area is municipal partnership projects.
- The Electricity Sector Performance Improvement Project is another collaboration between the World Bank and international partners to assist the Palestinian people. With a budget of US$ 4 million from the World Bank and 7US$ million from the PID MDTF, the project aims at strengthening the capacity of key energy sector institutions, improve the efficiency and service quality of the electricity distribution system, and pilot a new business model for solar energy in Gaza.
- The Second Finance for Jobs Project will boost job creation in Palestine with grants from the World Bank of US$8 million and US$1.5 million from the State and Peacebuilding Fund to support early-stage financing of start-ups, investment for employment in medium and large companies, and investment in the skills needed by the private sector.
- The Social Protection Enhancement Project. Through this project, the World Bank envisages to improve the social protection systems for extremely poor and most vulnerable households; With a budget of US$15 million, the project will focus on women empowerment, including counselling services for victims of violence.