Outgoing World Bank Chairman James Wolfensohn said on Tuesday that the Palestinian Authority must demonstrate security in management of its finances and transparency in expenditures in order to attract donors.
Wolfensohn, who will soon embark upon his new role as the Quartet’s envoy in the Israel-Palestinian peace process, said that the Palestinians must have some “certainty about future levels of assistance upon which they could plan.”
The “Quartet” refers to the four entities sponsoring the Middle East peace plan called the ‘Road Map.’ It includes the United States, European Union, Russia and the United Nations.
In his new position, Wolfensohn will be charged with creating an economic and aid plan for the P.A., working closely with Chairman Mahmoud ‘Abbas.
Referring to Israel’s upcoming unilateral withdrawal from the Gaza Strip, Wolfensohn said security for Israel and economic development for the Palestinians were the key factors for success.