West Bank and Gaza: Emergency Response Program

The following project was approved yesterday by the World Bank's Board:

GRANT AMOUNT: US$12 million through the Holst Fund
PROJECT DESCRIPTION: Designed to help offset the effects of the current economic crisis in the West Bank & Gaza (WBG), this project will aim to alleviate hardships for thousands of families through the provision of temporary employment for unskilled and semi-skilled laborers. Local suppliers and contractors will also benefit through the increased demand for materials and works. The grant is intended to serve as a catalyst for other donors to participate through parallel or joint contributions for further activities. The grant will be channeled through the Holst Fund, a multidonor trust fund facility administered by the Bank, for which all the institutional arrangements and procedures are in place, thus enabling expedited transfer and disbursement of this urgently needed assistance. For more information, call Hanan Dowidar at (202) 473-7199 or e-mail Dhanan@worldbank.org.