The Palestinian Authority will request about $5 billion in foreign aid over the next three years to help build state institutions, according to a report by Prime Minister Salam Fayyad.
The report on a three-year plan for Palestinian state building was presented during the annual meeting of the donor coordination group for the Palestinian territories on Wednesday (April 13) in Brussels.
The Palestinian Authority will seek $1.467 billion in foreign aid this year, $1.754 billion in 2012, and $1.596 billion in 2013, Agence France-Presse reports.
“Tax and clearance revenues, driven upwards by private sector-led economic growth and improved revenue administration, will progressively reduce our reliance on external aid,” the report says. “The next three years will witness a transformation in the nature of external aid from ‘life support’ to real investment in the future of Palestine.”
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