World Bank provides loan worth $21 million to the Palestinian government

The World Bank granted the Palestinian Authority an easy loan of $21 million to finance a service project for potable water and sewage in the southern West Bank as well as for improving the effectiveness of water distribution networks in Bethlehem and El-Khalil cities in the southern West Bank.

Palestinian officials say the loan will be paid back in 40 years with an allowance period of 10 years with 0.5% interest. They added that work on the projects that will be financed by the loan are supposed to be completed in June, 2002.