The Palestinian government will receive at least USD150 million in aid from the U.S, the first installment of a three-year aid pledge worth USD550 million. Washington made the commitment during an international conference held in December. According to Palestinian Prime Minister Salam Fayyad, the money will be piped into the national treasury to help the struggling government run more efficiently. He stressed the importance of the U.S. assistance. “We see this as significant, especially because it underscores the confidence with which our financial system is viewed internationally,” Fayyad averred.
Source: U.S. to transfer USD150 million in aid to the Palestinians (AP)