James D. Wolfensohn, President of the World Bank, will be visiting the West Bank and Gaza and Israel on December 20 - 21.
In Jerusalem he will meet with Prime Minister Ariel Sharon, Defense Minister Shaul Mofaz and Foreign Minister Silvan Shalom.
In Ramallah Wolfensohn will meet PLO chairman Mahmoud Abbas, PA Prime Minister Ahmed Qurei and members of the Palestinian Cabinet. This is the first visit to the West Bank and Gaza and Israel by the World Bank President since the Intifada began in late 2000, and follows the recent meeting of the Ad Hoc Liaison Committee (AHLC) in Oslo on December 8.
In his discussions with Palestinian and Israeli officials, Wolfensohn will review steps that the two parties need to take if they are to establish the preconditions for economic growth in the Palestinian Territories.
The World Bank believes that on Israel's part there is a need to dismantle the system of restrictions on the movement of Palestinian goods and services put in place since the beginning of the Intifada, which the World Bank has identified as the proximate cause of the Palestinian economic crisis.
On the part of the PA, the World Bank believes there is a need to combat Palestinian violence, restore internal law and order and create a governance environment attractive to potential investors.
The World Bank has been asked by the international community to report on progress on the ground in these areas. When it is possible to report that a climate conducive to real economic growth has been established, the Bank is committed to convening a donor pledging conference, at which donors would be asked to significantly increase their current disbursement levels of around $930 million per annum.
Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, December 19, 2004