It would take three years for Palestinian economy to recover
Palestine, Economics, 4/18/2002

Representatives from the World Bank and the United Nations say Israel's offensive into Palestinian territories has in effect destroyed the Palestinian economy.

Nigel Roberts, the World Bank director for the West Bank and Gaza, denounced curfews and closures that restrict civilians' freedom of movement Roberts said Israeli closure of the Palestinian territories has produced a 30 percent unemployment rate and a 50 percent poverty rate. He said it would take three years for the Palestinian economy to recover if the closures were lifted tomorrow.

U.N. special envoy Terje Roed Larsen also criticized the closures and said aid workers - who have frequently been blocked from delivering supplies - are dealing with a mounting humanitarian crisis.

An international donors conference scheduled for Friday hopes to raise $1.5 billion in emergency aid for the Palestinians. But, Roberts says that money will only slow the pace of decline.

Previous Stories:
  Moroccan planes conveying assistance to Palestinian people land in Jordan   (4/17/2002)
  Five Arab finance institutions give 10% of 2001 profits to Palestinian people   (4/17/2002)
  Saudi Arabia donations to the Palestinians   (4/15/2002)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search