The Study is financed through a multi-donor trust fund established for implementation of the Study pursuant to the Terms of Reference mutually agreed by the Beneficiary Parties. The beneficiary parties requested the World Bank to coordinate donor financing and manage the Feasibility Study and the Environmental and Social Assessment of the Red Sea - Dead Sea Water Conveyance concept.
A donor meeting was held in Paris in July 2005 to raise financing. Since then, five bilateral donors have made firm commitments to financing the Study Program: France, Greece, Japan, The Netherlands, and the United States of America. Additional financing is still being considered by several bilateral donors, and the Beneficiary Parties hope that any new commitments can be finalized by summer 2007.
Work on the Study is estimated to take about two years from signing the contracts. The total value of the Study Program - including the Feasibility Study, the Environment and Social Assessment Study, study management, the Panel of Experts, stakeholder consultation meetings, and the World Bank Trust Fund audits and related expenses - is estimated at US$15.5 million.
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