World Bank Approves Urgent aid to PA

The World Bank says it has approved a $42 million aid package to help keep the cash-strapped Palestinian Authority running until Hamas forms the next government.

World Bank Approves Urgent aid to PA

The money, from an existing trust fund managed by the World Bank, will be used by the Hamas-led Palestinian Authority to meet its immediate financing needs and to avoid suspension of basic services, the international lending agency said in a statement on Tuesday.

Bank officials said they were awaiting a decision by the quartet of Middle East mediators - the US, the European Union, the UN and Russia - on how any future assistance would be delivered to the Palestinians once a Hamas-led government was formed.

The current funding crisis stems from Israel's decision to freeze tax revenue transfers to the PA starting this month, in a bid to weaken Hamas, which won a 25 January parliamentary election.

The tax revenues, collected by Israel on behalf of the Palestinians, are worth between $50 million and $55 million a month.

As many as one in four Palestinians is dependent on wages from the PA. Last week international envoy James Wolfensohn said violence could break out if salaries were not paid.

Güncelleme Tarihi: 20 Eylül 2018, 18:16