68032
                         THE WEST BANK AND GAZA: INTERIM STRATEGY NOTE

                                                      CHAIR’S SUMMING UP

                                                Meeting of the Executive Directors

                                                               April 6, 2012



       Executive Directors discussed the joint IDA/IBRD/IFC West Bank and Gaza Interim
Strategy Note (ISN) for FY12-14 (R2012-0062[IDA/R2012-0079; IFC/R2012-0083]).

        Directors noted the Palestinian Authority’s efforts to reduce the budget deficit and its
dependence on aid. They commended the Palestinian Authority (PA) for progress in
strengthening public institutions and encouraged further engagement to strengthen financial
management and improve governance.

        Directors expressed broad support for the ISN noting that it responded well to the current
development challenges in the West Bank and Gaza. They welcomed the ISN’s two pillars - (i)
strengthening the institutions and ensuring basic services; and (ii) building good investment
climate for private sector led growth.

       Directors commended the World Bank’s role in providing resources and advisory
services to the West Bank and Gaza. They appreciated the key role that IFC will play in
energizing private sector development, which will help with employment creation for women
and youth, in particular. They also agreed with using multiple channels to provide assistance,
including municipalities and NGOs. Directors noted the challenging environment and the risks
associated with political and security conditions, and encouraged the Bank to continue promoting
coordination among the key partners. Directors welcomed the mitigation measures such as
simple project design and flexibility of the portfolio, as well as a robust analytical program to
inform operations.

         Directors welcomed the Bank’s focus on its comparative advantage in development
initiatives and appreciated the ISN as a collaborative roadmap for laying the groundwork for
long-term development in the West Bank and Gaza.




                                                            
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  This Summary is not an approved record.