Paris: An international donors' conference pledged $7.4 billion in aid to the Palestinians over the next three years, French Foreign Minister Bernard Kouchner said on Monday.
"Our goal had been for $5.6 billion. Now we have $7.4 billion," Kouchner told a news conference following the one-day conference which aimed to boost the Palestinian economy and underpin renewed Middle East peace talks.
The Palestinian government had sought $5.6 billion over three years, funds designed to revive the moribund Palestinian economy and strengthen President Mahmoud Abbas in a struggle with Hamas while he negotiates with Israel.
"Without the continuation of this aid and without the liquidity needed for the Palestinian budget, we will have a catastrophe in the Gaza Strip and in the West Bank," Abbas told the conference.
French President Nicolas Sarkozy had urged the 68 visiting states to be generous at the conference. The European Commission pledged to donate $650 million (Dh2.3 billion) in aid for 2008, while Britain announced a three-year aid package of up to $490 million (Dh1.79 billion). The United States pledged some $555 million.
"This conference is literally the government's last hope to avoid bankruptcy," US Secretary of State Condoleezza Rice said.
Assistance: UAE gives $300m
The UAE will offer a grant of $300 million in support of the Palestinian National Authority (PNA) over the next three years.
The announcement was made by Dr Anwar Mohammad Gargash, Minister of State for National Federal Council Affairs, at the Donors Conference in Paris.
- WAM
