Joint World Bank/UNSCO press conference on Palestinian economy – WB/UNSCO press release

Media Advisory * * * Media Advisory * * * Media Advisory

Joint World Bank/UN Press Conference to Present Findings of

Major New Economic Reports

What: Joint press conference with the World Bank and the Office of the United Nations Special Co-ordinator

Who: Mr. Terje Roed-Larsen, UN Special Coordinator for the Middle East Peace Process

Mr. Nigel Roberts, World Bank Director, West Bank and Gaza

When:  Wednesday, 5 March at 11:00 a.m.

Where: The Pasha Room, American Colony Hotel, Jerusalem

Why: After nearly 30 months of violence, curfews and closure, the Palestinian economy is battered, with soaring unemployment and poverty rates. One of the main factors stopping total economic collapse: more than USD 1 billion in annual aid. But what is the true nature of the West Bank and Gaza Strip economy today? And what can be done to ease the desperate situation?

The World Bank will present findings from its major macro-economic analysis, “Two Years of Intifada, Closures and Palestinian Economic Crisis.” The 100-page report, due out in mid-March, covers the first 24 months of the current crisis, and is a follow up to a similar report released nearly a year ago.

UNSCO will present findings from its latest in a series of economic reports. The 85-page “The Impact of Closure and other Mobility Restrictions on Palestinian Productive Activities, 1 January – 31 December 2002,” complements the World Bank report by exploring the devastation in the West Bank’s productive sectors. It includes micro-economic analysis and numerous case studies about the impact of the crisis on firms and families.

After giving short statements, Mr. Roed-Larsen and Mr. Roberts will be available for questions.

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For more information, please contact:

UNSCO: Mark Dennis, mobile: 055-627-807, office: 02-568-7289, email: dennism@un.org

World Bank: Kazuki Itaya, mobile: 050-583-733, office: 02-236-6501, email: kitaya@worldbank.org