UNITED NATIONS: The World Bank backs language in a United States-drafted United Nations Security Council resolution on Gaza that would authorise a two-year mandate for a transitional governance body, according to a letter to the US seen by Reuters.
The 15-member UN Security Council began negotiations on Thursday (Nov 6) on the text that would mandate a so-called Board of Peace transitional governance administration, giving it the authority to establish operational entities to address issues including the reconstruction of Gaza and of economic recovery programs.
The World Bank, the UN and the European Union had estimated in February that it would cost more than US$50 billion to rebuild Gaza, and are finalising a new interim estimate of US$70 billion.
“Our engagement in Gaza will require the ability to work with international partners who enjoy the full support of the international community and full authorisation to undertake their efforts,” World Bank President Ajay Banga wrote to US Ambassador to the UN Mike Waltz.
“The proposal to establish an authority, in the current draft the Board of Peace, by the UN Security Council with the authorisations set out in the resolution would provide the needed framework for engagement by the Bank,” he said in the letter dated Saturday.
Banga was responding to correspondence from Waltz, thanking him for sharing the draft UN resolution. The World Bank did not immediately respond to a request for comment on the letter.
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