European Union to renew support to Palestinian Ministry of Finance

Monday June 11, 2007 11:36 by John Smith - IMEMC

The Minister of Finance, Dr. Salam Fayyad, and European Commission Representative, Mr John Kjaer, today signed a memorandum of understanding re-launching European Union assistance to the Palestinian Ministry of Finance.

The first EU initiative will be a €4 million project to assist the Minister of Finance in ensuring the proper use of Palestinian taxpayer’s money.

The EU moves comes after the union of countries had placed an economic embargo on the PA following the victory of Hamas in January’s legislative elections with the apparent change of heart being attributed to the appointment of a minister who is widely viewed as being committed to and supportive of the Quartet’s demands.

Welcoming the European initiative, Dr. Salam Fayyad stated, "The European Union has always played a leading role working with the Palestinian Authority to help it achieve its objective of managing public money efficiently and transparently. This support for the Ministry's internal audit and internal control departments will help me ensure that we work in accordance with the best international standards, and that the government can give every Palestinian taxpayer the assurance that their money is being legally and honestly spent."

The project will provide funding until June 2009, with the first training programmes beginning in Ramallah on July 1.

palestine | diplomacy | news report