Palestinian Authority Outlines Foreign Aid Needs Through 2013

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.

>> Palestinian Donor Coordination Group Holds Meeting

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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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.