Palestinian Authority Eyes Less Aid in 2011

    Palestinian Prime Minister Salam Fayyad during his meeting with Holy Land Coordination bishops on Jan. 11, 2011. Fayyad said the Palestinian Authority is seeking USD1 billion in foreign aid this year. Photo by: Mazur / catholicchurch.org.uk

    The Palestinian Authority will seek USD1 billion in foreign assistance this year, down from USD1.2 billion in 2010, according to Palestinian Prime Minister Salam Fayyad.

    Fayyad, a former World Bank economist, wants to completely forego overseas aid by 2013. Since he assumed office in 2007, the territory’s international aid needs have decreased, from about USD2 billion per year, Reuters notes.

    “We expect that a deficit in this range (of less than USD1 billion) … will be within the framework of what it is possible for the donors to finance,” he said, as quoted by Reuters. 

    About the author

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      Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.