Strengthening Fiscal Stability and Financial Integrity

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The development objectives of the Strengthening Fiscal Stability and Financial Integrity Development Policy Financing for West Bank and Gaza are: (i) strengthen commitment control in line ministries and improve overall public procurement practice, (ii) improve sector governance in water and health service provision, and (iii) strengthen the stability and integrity of the financial sector. The development policy grant (DPG) builds upon and complements reform efforts supported by previous operations, and brings a specific focus on governance, transparency, and financial sector stability and integrity. The DPG supports the Palestinian Authority (PA’s) efforts to strengthen the quality of public financial management and public procurement practices, continue improvements in sector governance in the health and water service delivery, and implement key financial sector reforms related notably to tightening anti-money laundering and combating financing of terrorism (AML and CFT) controls. The DPG will provide much needed financing to ease some of the fiscal stress, now compounded by the Coronavirus 2019 (COVID-19) pandemic, and enable the PA to finance some of its key operations.