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World Bank: Donations to Gaza far behind pledges

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15-09-2016 | 03:08

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World Bank: Donations to Gaza far behind pledges

The World Bank says less than half the money pledged by donors to rebuild the Gaza Strip after the 2014 war between Hamas and Israel has been disbursed.

The shortfall is among several reasons the Palestinian economy is stagnating, with unemployment at 42 percent in Gaza and at 18 percent in the West Bank.

The World Bank says Israeli restrictions are also limiting Palestinian economic competitiveness and driving away private investments.

The bank recommends Israel allow more building in the West Bank and loosen its blockade of Gaza. It also calls on the Palestinian Authority to cut spending, especially by reducing pension payments.

The report released Thursday will be delivered to the Ad Hoc Liaison Committee, a forum of donors to the Palestinian Authority, in New York next week.

AP

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