The World Bank warned that the fiscal situation of the PA has "dramatically worsened in the last three months, significantly raising the risk of a fiscal collapse."
"We're all just very much taken aback by the magnitude of the casualties on both sides," Anna Bjerde, the World Bank's managing director of operations said.
The World Bank last month cut its 2024 forecast for global economic growth to 2.4% from 2.7% earlier, citing global monetary tightening.
The funds will be provided with guarantees from the Japanese government and channeled to support social security and economic development.
The report attributed the slowing Palestinian economy in part to restrictions on mobility, imports, and trade imposed by Israel.
Ajay Banga, an Indian-born American former business executive, is gaining momentum to head the World Bank.
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