Japan’s New Financial Assistance to the PA through the World Bank’s Trust Fund
The Government of Japan has decided to extend a contribution of 10 million USD to the Palestinian Recovery and Development Plan Multi-Donor Trust Fund (PRDP-MDTF) to support the Palestinian Authority (PA) direct budget Administrative Arrangement to this effect was exchanged today on March 4th, 2013, in Ramallah with the participation of H.E. Dr. Salam Fayyad, Prime Minister of the PA, between Ms. Mariam Sherman, Country Director, The World Bank, West Bank and Gaza Country Office and Mr. Junya Matsuura, Ambassador for Palestinian Affairs/ Representative of Japan to PA.
A 10 million USD contribution to the World Bank PRDP Trust Fund is a part of international supports to alleviate PA financial difficulties. The World Bank PRDP Trust Fund was established on April 10, 2008, through an agreement signed between the World Bank and the Palestinian Authority. The Trust Fund is central in supporting the Palestinian reform and development plan and it supports strengthening the PA’s capacity to sustain a number of significant reforms introduced to date and to bolster further progress.
Japan has extended about 110 million USD for PA since 2012, which is a part of 1.34 billion USD contributions since Oslo accords. Japan has been supporting financially and technically the economic development efforts exerted by key ministries, to help prepare the PA for statehood in line with the PA's national development plans. Japan has also provided assistance through UNRWA and other UN agencies including humanitarian assistance, as well as to local NGOs and local councils for their grassroots development projects.