E.U, P.A, Sign €158.5 Million Financing Agreement

Wednesday January 20, 2010 08:46 by Saed Bannoura - IMEMC & Agencies

Palestinian Authority (P.A) and the European Union signed on Tuesday a €158.5 million Financing Agreement, including €0.5 Million in contribution from Austria, to the P.A’s recurrent expenditures for 2010.

The Palestine News and Information Center, WAFA, reported that the
The money would be used by the Palestinian Authority to pay salaries and pensions, and to support its social protection program.

€66 Million would be allocated to the UNRWA General Fund in order to ensure the delivery of public services to the refugees, WAFA added.

The European Union would be holding further talks with the Palestinian Authority next week in order to set the details of additional €71 Million meant to strengthen the institutions of the anticipated Palestinian state.

Palestinian Prime Minister, Dr. Salaam Fayyad, said that the Palestinian people need all sorts of supports in order to build the foundations of their institutions and to counter the obstacles in order to continue the development process.

He thanked the European Union for its continuous support to the people and the P.A so that they can move towards ending the occupation and building their independent state.

The E.U is the biggest donor to the Palestinian Authority as it provided the P.A and civil institutions in Palestine, with 500 Million Euros since 2007.

ramallah | international politics | news report saed at imemc dot org