World Bank Calls to Reverse the Palestinians Poverty Trend

The World Bank is calling upon nations of the world to help the people of Palestine and upon Israel to improve relations with the Palestinian people. These calls come following data indicating that the Palestinian people are growing increasingly poor; a trend the World Bank believes could destabilize this population even further and spark off both conflict and a further humanitarian crisis.

The World Bank is calling upon nations of the world to help the people of Palestine and upon Israel to improve relations with the Palestinian people. These calls come following data indicating that the Palestinian people are growing increasingly poor; a trend the World Bank believes could destabilize this population even further and spark off both conflict and a further humanitarian crisis.

According to the World Bank, reduced donor aid, war, suspended revenue payments, and ongoing Israeli restrictions have severely damaged the Palestinian economy. The World Bank’s pleas come as part of its economic report to the Ad Hoc Liaison committee (AHLC), a forum of donors to the Palestinian Authority. The report examined current economic conditions in the embattled region and made a number of recommendations for reforms designed to stop further financial deterioration. Unfortunately, the report highlights that much of the situation is outside the control of the Palestinians, themselves, requiring the intervention of outside nations.

Steen Lau Jorgensen, World Bank Country Director for West Bank and Gaza noted that, “The persistence of the current volatile reality increases anxiety and uncertainty, overshadowing the ability of Palestinians to perceive a brighter future. Economic development measures could serve to build confidence towards a diplomatic horizon that is desperately needed on both sides.”

According to the World Bank’s data, real per capita GDP has shrunk since 2013. Unemployment is soaring in the region, particularly amongst Gaza’s youth where more than 60 percent are without a job. This has led to poverty levels exceeding 25 percent of the population. The report also highlights stagnating construction efforts, waning foreign contributions to reconstruction and support, and crippling sanctions by the government of Israel.

Fortunately, Israeli authorities have recently commented on the importance of Palestinian economic progress. This may highlight a change in the tide of Israeli policy toward the region, seeing the benefit of helping these people escape grinding poverty.

The World Bank will present its report in New York later this week. Aside from illustrating the enormous hurdles the people of Palestine face, the report also outlines, the potential of the Palestinian economy if foreign powers honor existing agreements and Israel agrees to lift its oppressive restrictions.

The report concludes that although the region remains under conflicting political authority, this should not lead the people to adopt a policy of complacency. If Palestinians and interested nations work together, economic development should follow and help lead to a peaceful resolution of many of the hostilities that have dogged this region.