Japan Financial Assistance to the PA through the World Bank Trust Fund
1. The Government of Japan has committed a 30 million USD to budget support through the World Bank for the Palestinian Recovery and Development Plan Multi-Donor Trust Fund (PRDP-MDTF) to support the Palestinian Authority devastated financial situation, as part of the recent additional support from the Japanese government to the Palestinian people, which was announced by the Prime Minister Shinzo Abe during his visit to Palestine January/201 5 amounting to 100 million USD. This contribution comes in a time where any kind of budget support is needed to help in stimulating the Palestinian economy and to offset the PA deep financial problems.
2. This is the 3rd contribution following last year's 30 million to the PRDP Trust fund which 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.
3. 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.