World bank grants $50 million for Palestinian development

The World Bank Board of Executive Directors has approved $40 million in grant funding to support progress in key reforms by the Palestinian Authority (PA) that will result in better delivery of services to citizens. The $40 million Development Policy Grant (DPG) in budget support is part of the World Bank s ongoing engagement with the PA to consolidate and build on a good track-record of reform achievements. Three previous policy grants totaled $120 million and established a strong foundation of reforms. This latest contribution focuses on improving transparency and accountability and ensuring efficient use of public finances.   Some key measures taken by the PA include publicly available information about the budget, a new procurement law, and better management of electricity services in towns and villages throughout the West Bank and Gaza.   (QNA)