Stockholm hosts informal meetings of donor countries for Palestine
Palestine, Economics, 4/3/2001

An informal meeting of donor countries to Palestine will be held this April 11 in Stockholm to collect a monthly amount of 90 million Euros in loans or donations to the Palestinian authority.

A spokesman for the European Commission, said a large number of countries and international bodies are expected.

The European Union, presently chaired by Sweden, is counting on the participation of non-EU member countries -the USA, Canada, Japan and others- Arab countries in addition to the World Bank, the International Monetary Fund and the Islamic Development Fund.

He said the Palestinian authority needs urgently a monthly 90 million Euros to pay for normal expenses.

He also recalled that Arab states had promised to pay a monthly 40 million Euros, for a period of six months.

In their summit last March 24, EU heads of state had expressed "resolve" to bring "contribution to peace, stability and prosperity in the Middle East" and avert an economic and institutional collapse in the Palestinian territories. They also called other non-member countries to commit financial contribution to the Palestinian budget.

A recent UN report estimated losses incurred by Palestine since last September at 1.6 billion Euros. The EU had approved last February a 60 million Euro-aid to the Palestinian authority.

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