Palestine: EU to help pay November salaries
The European Union (EU) Sunday contributed approximately €7.4 million to the payment of the November salaries and pensions of more than 84,000 Palestinian civil servants and pensioners in the West Bank and Gaza Strip, said a press release by EU.
This contribution is being channelled through the PEGASE Direct Financial Support mechanism; Spain, Ireland, the Netherlands and Sweden to the Palestinian Authority's November salaries and pensions’ payment.
EU Representative John Gatt-Rutter said, “I would like to underline once again the risks of jeopardising the major achievements of PA in state-building if the current financial difficulties are not addressed by a common effort of the PA, Israel and donors.”
'I would like to thank the Governments of Spain , Ireland , the Netherlands and Sweden for their respective contributions and for entrusting the PEGASE Direct Financial Support mechanism with channelling their funds,' he added.
EU contribution is being funded by the Governments of Ireland with €1.0 million, the Netherlands with c.€1.2 million earmarked specifically to PA salaries in the Justice sector, out of a total contribution of €5.0 million for 2012, Spain with €4.0 million and Sweden with SEK 10.0 million or c.€1.2 million, out of a total contribution of SEK 45.0 million for 2012.
The European Union has contributed more than €145.0 million to the payment of PA salaries and pensions during 2012, including €130.0 million from the European Commission.
- Qatar expansion driving down credit growth - Barclays
- 7% of Emaratis had to deal with a false positive with their bank - survey
- Trade between 18 Arab countries hikes to $2.1 trillion - IMF
- Allocating more funds to SWF would improve Saudi wealth returns
- Sovereign wealth funds in GCC focus more on local investments