for scaled up support from financial donors to fill a $470m financing gap.

• Political risk (HIGH): Donald Trump has taken a more positive tone but this is offset by rising tensions

between Hamas, Fatah and Israel

• Economic risk (HIGH): An uptick in growth has done nothing to allay concerns over medium term

anaemic growth.

• Financial risk (HIGH): Further shortfalls in budget support or a failure of the PA to contain spending

would weaken an already fragile fiscal position. The link between banks and PA financing is concerning.

• Commercial risk (MEDIUM): Businesses face obstacles both from external border restrictions and

from internal commercial hurdles.