Palestinian PM says government needs quick cash

Paris: The Palestinian government needs quick cash to stay afloat in coming months, Palestinian Prime Minister Salam Fayyad said.

Fayyad's statement came as delegates from nearly 90 countries gathered in Paris for a conference on Monday to boost aid to Palestinians.

Fayyad is asking for $5.6 billion over three years, 70 per cent of it for budget support and the rest for development projects.

The Palestinians have run up a huge budget deficit, a result of years of conflict with Israel and diplomatic deadlock. In Gaza, three-fourths of the 1.5 million residents are poor.

"This is a point in time where we need cash assistance, and we need it in a hurry," Fayyad said.

"We do need Arab assistance," Fayyad said. "We have reason to believe it should be forthcoming."