EU pledges $1.8 bn aid package to Palestinian Authority to rebuild Gaza

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EU pledges $1.8 bn aid package to Palestinian Authority to rebuild Gaza - Business Standard

Quick Summary:

The European Union on Monday unveiled a financial aid package of up to 1.6 billion euros (USD 1.8 billion) to support the beleaguered Palestinian Authority and fund projects in the West Bank, Jerusalem and war-ravaged Gaza.

More than a third of the money, to be provided over two years, will come as direct budget support to the Palestinian Authority and it's aimed at improving financial sustainability, democratic governance and services to help the private sector develop.

Our programme aims to support the Palestinian people in building a sustainable future," said EU Mediterranean Commissioner Dubravka uica.