Region | Palestinian Territories
World Bank picks five groups to channel relief fund
'Organisations have demonstrated sound financial management'.
- Bloomberg
- Published: 21:16 March 1, 2009
London: The World Bank yesterday urged donor countries to channel funds for rebuilding the war-ravaged Gaza Strip through the Palestinian National Authority and five local organisations with "proven capacity" to undertake projects.
The report was e-mailed a day before the US and other donors are to meet in Sharm Al Shaikh, Egypt, to discuss the rebuilding effort.
The Washington-based institution said Israel needed to ease its blockade of Gaza for the effort to begin.
"Implementation will only be possible if the restrictions blocking the predictable entry of basic material into Gaza, including cement, steel, glass, equipment and spare parts, are lifted," a statement accompanying the report said.
The Gaza groups that the World Bank recommended as recipients of donor funds include the Palestinian Water Authority and Municipal Development and Lending Fund, which it said demonstrated "effective financial management."
The World Bank said donors could also send aid through projects in Gaza that it has been financing, and added that these could be "quickly scaled up" to meet Gaza's immediate needs. The World Bank backed the Palestinian National Authority's estimate that rebuilding will cost about $2.8 billion.
Share this article
More from Palestinian Territories
More from Region
Popular in News
News Editor's choice
-
King Tut's tomb set for project
Observers note strange brown spots marring lavish wall paintings
-
Thieves caught with Dh6m in gold bars
Twenty-five gold bars were stolen from the luggage of a Malaysian tradesman
-
What to expect at the Dubai Airshow
We preview what types of aircraft to expect at the Dubai Airshow
