EU foreign ministers agree to organise donors conference to help Palestinian National Authority
EU foreign ministers decided on 26 February to organise an international donors conference to help the Palestinian National Authority. According to EU sources, the conference is likely to take place in a Nordic capital on 7 March.
The Union, the biggest contributor to the Palestinian National Authority, is willing to release 60 million euros to support the Palestinian budget. However, it wants its assistance to be part of a wider international effort.
The EU expects substantial contributions from wealthy Middle-East countries, such as Saudi Arabia and the United Arab Emirates, as well as from the USA and Japan. According to an EU source, the IMF should supervise an austerity budget for the Palestinian Authority.
The ministers of the Fifteen called on Israel to end the blockade of the West Bank and Gaza Strip that is the main source of the financial trouble of the Palestinian Authority.