Palestinians thank Saudi Arabia for 100 million dollars in aid



RAMALLAH- The Western-backed Palestinian Authority on Monday thanked Saudi Arabia for providing more than 100 million dollars (72 million euros) in aid.
The Palestinian cabinet "praised the generous support provided by Saudi Arabia, which transferred yesterday (Sunday) 100 million dollars," it said in a statement following a weekly cabinet meeting.
It added that Riyadh had transferred another 15.5 million dollars last week.



The fresh aid followed a meeting between Palestinian president Mahmud Abbas and Saudi King Abdullah in Riyadh on Friday.
It also came after US Secretary of State Hillary Clinton last week called on Arab states to increase their financial support for the Palestinians as part of US-led peace efforts.
The Palestinians have received 525 million dollars in budget support in the first half of this year, in addition to 1.4 billion dollars in 2009 and 1.8 billion dollars in 2008, according to the World Bank.
The influx of aid, most of which comes from the United States and the European Union, has been the main driver of the 10 percent economic growth seen in the West Bank this year, it said in a report to donors in September.
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Tuesday, October 26th 2010
AFP
           


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