October 17, 2021

World Bank: Palestine faces major financial problems

categories : banking

The Palestinian government faces a major financial problem in public finances and debt, World Bank President David Malpass said yesterday.

'I was in the West Bank a week ago. There is a problem related to public finance and debt, and we are seeking to perform better there,' Malpass said.

Malpass pointed out that he had visited the wastewater treatment plant in Hebron, which is financed by the World Bank as part of its efforts to help the Palestinian government build similar plants.

'Until now, it is Israel that handles the wastewater treatment, and we want this to take place in the West Bank; in Hebron, Jerusalem and the rest of the West Bank, in order to reduce costs,' he said.

Israel unilaterally deducts monthly amounts from Palestinian tax revenues which it says are in return for receiving sewage water coming from the Palestinian territories, in addition to other services such as electricity, water and medical referrals, totalling more than $50 million per month.

middleeastmonitor

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