IDB pays first $15 million installment to PA
The Jeddah-based Islamic Development Bank (IDB) said Wednesday, March 14, it has paid the Palestinian Authority a first installment of $15 million. "The payment of $15 million is the first installment of $60 million that the IDB has decided to allocate to the Palestinian Authority," said IDB president Ahmad Mohammad Ali.
Arab foreign ministers meeting in Cairo Sunday night recommended their leaders abandon the IDB as the manager of two funds set up by the last Arab summit in October, because it was too slow in distributing the aid.
Ali said the IDB had also decided to "allocate $10 million to the Palestinian health ministry to finance the purchase of medical equipment, salaries and training."
During the October summit, several Arab countries refused to provide direct financial aid to the Palestinian Authority, which they charged was rife with corruption and lacking in accountability. —(AFP)
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