World Bank adopts new strategy for Palestine

(VOVWORLD) -The World Bank's Board of Directors has endorsed a new four-year assistance strategy for the Palestinian territories, said WAFA news agency on Thursday. 

The strategy will continue to support resilience of livelihoods and service delivery and will put greater emphasis on transformational investment for a well-connected Palestinian economy and long-term economic returns.

"Due to the persisting fragile context, exacerbated by the COVID-19 pandemic, resilience strengthening is needed immediately. The new World Bank strategy will act to protect lives and livelihoods and put the jobs agenda at the forefront of its strategy", said Kanthan Shankar, World Bank Country Director for West Bank and Gaza.

The World Bank Group said its new strategy is focused on the wellbeing of the Palestinian people, particularly the poor and vulnerable, women and youth. The program will continue to strengthen the Palestinian resilience in times of crisis and provide relief and recovery, including through the emergency social protection and cash-for-work programs. The social response will aim to enhance workforce resilience and capability for better employment through improving quality of education and health. It will increase its support to SMEs and start-ups for job retention and business continuity.