Egypt Supports Palestinian Funds with $10m
Egypt has so far paid $10 million into two funds set up by the Cairo Arab Summit in October to support the Palestinian Intifada and preserve the Arab character of Jerusalem in the face of Israel’s "Judaization" policy.
Al Ahram daily quoted head of the Islamic Development Bank (IDP), which supervises the Jerusalem Intifada Fund and the Al Aqsa Fund, as saying that Cairo had lately deposited $2.5 million as part of its $30 million commitment to the funds.
IDB president Ahmad Mohammad Ali said that 12 Arab states had fulfilled 80 percent of their commitments.
AFP quoted other Arabic press reports as saying that the 12 Arab donor countries had paid $538.2 million into the funds.
Ali said that seven of the 12 donor countries had fully met their commitments: Kuwait ($150 million), Qatar ($50 million), Algeria ($30 million), Oman ($10 million), Syria ($7 million), Bahrain ($3 million) and Jordan ($2 million).
Of the rest, Saudi Arabia is to donate the last $40 million of its commitment of $240 million next month, while the United Arab Emirates has paid in $92 million of its $150 million.
Yemen has contributed only $2 million dollars from its commitment of $10 million.
According to Ali, $251 million have been transferred to the Palestinian Authority, mostly in the form of loans and donations to hospital, education and infrastructure projects in the Palestinian territories.
The Jerusalem Intifada Fund was created by the Arab heads of state to support the families of Palestinians killed or wounded in the uprising, and the Al Aqsa Fund to "preserve the Islamic character of east Jerusalem" and support the Palestinian economy. They are both managed by the IDB.
In total, Arab states pledged $1 billion to the two funds - Albawaba.com