EU offers €400 million additional financial support to the Palestinian Authority

Headline: “EU offers €400 million additional financial support to Palestine”

“RAMALLAH, Friday, July 19, 2024 (WAFA) — The Palestinian government has welcomed the European Union's response to its request for urgent financial support, describing it as a significant step towards alleviating the severe financial and economic crisis exacerbated by the ongoing Israeli aggression on Gaza.

The government announced today that after months of efforts, the European Commission has approved an emergency financial assistance package totaling €400 million. This aid will be disbursed in grants and loans in three installments over the coming months for various purposes aimed at mitigating the financial and economic crisis.

The Palestinian government viewed this emergency aid package and the planned financial stability plan as crucial foundations to strengthen national institutions' efforts in delivering services to citizens. It reiterated its commitment to securing further international and Arab support to improve the financial and economic situation in Palestine.

‘This support aims to fulfill obligations towards public sector employees, service providers, and pave the way for a new phase of economic revitalization, private sector empowerment, and addressing unemployment issues,’ said the Palestinian government in a statement.

The government emphasized its continuous work on improving public institutions' performance and service quality. This includes enhancing the judicial system, providing necessary social care, combating unemployment, improving educational outcomes, and enhancing healthcare services.

The Palestinian government expressed gratitude to the European Union for its solidarity and commitment to supporting Palestinian resilience and development efforts amidst ongoing challenges.”

[WAFA, official PA news agency, English edition, July 19, 2024]