The World Bank stated Wednesday that its transferred on September 12 the amount of $14.3 Million to the Palestinian Authority in the West Bank, as part of a plan of the Investment Fund to help the P.A resolve its crisis and to help it build its devastated economy.The World Bank said that the money, mainly granted by the governments of Australia and Britain, will help the P.A. budget in order to enable it provide the needed essential health, medical and social services, in addition to other vital services and economic rehabilitation.
The Investment Fund, support by several Donor Countries, was established on April 10, 2008, when the World Bank and the Palestinian Authority signed an agreement that was reached following several meetings between the World Bank and the Investment Fund.
The Fund is considered a cornerstone of the development and reform of the P.A aimed at helping its build strong institutions before establishing the independent Palestinian State. The main donor countries are Britain, Australia, France, Kuwait and Norway.
Counting the latest financial aid to the P.A., the Investment Fund has already granted the P.A. $849 Million.
Israel control all border terminals in the West Bank, therefore, it is in total control of the financial situation of the P.A as Tel Aviv controls all exports and imports on all border terminals.
Israel’s ongoing occupation of the West Bank and East Jerusalem, and its ongoing illegal settlement construction and expansion activities, in addition to its illegal Annexation Wall, transformed the different districts in the West Bank into isolated cantons, and the Palestinians continue to lose their lands for Israeli illegal settlement activities.