88090
                                                         West Bank and Gaza
                        Replenishment of the Trust Fund for Gaza and the West bank

                                                               Chair Summary
                                                                May 15, 2014
        The Executive Directors discussed the proposed Request for Replenishment of the Trust
Fund for Gaza and West Bank and recommended that the Board of Governors authorize a
transfer from IBRD surplus of the amount of US$55 million to the Trust Fund.
        Directors expressed broad support for the World Bank Group’s program in the West
Bank and Gaza, and welcomed its alignment with the WBG twin goals as well as the Palestinian
National Development Plan 2014-2016. Directors appreciated the Fund’s catalytic role in
leveraging additional donor resources, and welcomed the debt relief provided from the Debt
Relief Trust Fund to the Palestinian Authority.
        Directors recognized that the current grant portfolio is performing well. They stressed
the importance for WBG to continue focusing on strengthening institutions to efficiently manage
public finances to ensure quality delivery of critical services. Directors encouraged enhanced
measures to address emerging developmental challenges such as portfolio quality, fiduciary
standards, and the integration of gender and citizen engagement. Finally, taking note of the
difficult operating environment, Directors were satisfied with the mitigation measures to address
the related identified risks and appreciated the dedication of staff involved in the Bank Group’s
program.




                                                            
*This summary is not an approved record.