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                     West Bank and Gaza: Development Policy Grant IV

                                 SUMMARY OF DISCUSSION

                          Meeting of the Board of Executive Directors

                                           March 6, 2012


       Executive Directors approved a Development Policy Grant to the Palestine Liberation
Organization (for the benefit of the Palestinian Authority) in the amount of $40 million from the
Trust Fund for Gaza and West Bank to support the Palestinian National Development Plan, on
the payment terms and conditions set out in the President’s Memorandum (IDA/R2012-0032).

        Executive Directors expressed support for the Palestinian reform program, particularly
the focus on strengthening the fiscal position and public financial management, and looked
forward to reviewing the Bank’s upcoming Interim Strategy Note for West Bank & Gaza. To
strengthen support for reforms, Directors encouraged greater consultation with the Palestinian
public and civil society. They also welcomed and urged continued close collaboration with the
IMF and other donors. Finally, the importance of addressing the critical challenge of
unemployment and job creation was highlighted.





 This summary is not an approved record.