Donors meet in Paris to back Middle East peace bid

Paris: More than 60 countries met in Paris on Monday for fresh Middle East peace talks aimed at soliciting aid for the Palestinian government.

The talks are also aimed at achieving an agreement on Palestinian statehood next year.

President Nicolas Sarkozy pledged $300 million in aid, while the United States promised more than $550 million.

The European Union pledged 440 million euros ($639.4 million), which will be available from March.

"This gathering of the entire world targets economic and political support," Palestinian President Mahmoud Abbas said ahead of the meeting.

Palestinian leader Mahmoud Abbas is hoping to secure $5.6 billion in aid over three years for his budget and for economic development in both the West Bank and in Hamas-controlled Gaza.