Palestine to call for USD5.5 billion in aid

Palestinian President Mahmoud Abbas will implore donors in Paris to pledge USD5.5 billion in aid to fortify the ailing Palestinian Authority. The funds will be used for budgetary support and development, as well as to buttress Abbas’ efforts against Hamas Islamists and to resuscitate the crippled Palestinian economy. “The government desperately needs the aid because by the end of the year it will not have funds to pay its outstanding private sector debts and salaries to the government employees, which amount to more than USD500 million and other expenses,” a Palestinian official said.

Source: Palestinian Authority to request USD5.5 bln in aid (Reuters)