The Fatah-led Palestinian Authority is to receive $40 million from the World Bank, according to a Fatah web site.

Fatah PM Salam Fayyad signed an agreement with the World Bank Tuesday to receive the 40 million within the framework of his so-called Palestinian Reform and Development Plan (PRDP).

Fayyad worked for the World Bank in Washington, DC from 1987 to 1995.