IDB provides $54 million loan to Palestinian Authority

Published July 16th, 2001 - 02:00 GMT

The Islamic Development Bank (IDB) has recently granted the Palestinian Authority (PA) a $54 million loan, reported AFP news agency. During the Arab summit that took place in Amman in March, the IDB vowed to provide the PA with $180 million in six $30 million monthly instalments.  

 

The instalments are provided by the two Jeddah-based Arab funds, which were created at the Arab summit of October 2000 and placed under IDB management to support the Palestinians. The aim of the Jerusalem Intifada Fund is to support the families of wounded or killed Palestinians, whereas the Al-Aqsa Fund is aimed at providing funds needed to help rebuild the Palestinian economy.  

 

The IDB stated that an additional $24.15 million was released to help repair roads and provide hospital facilities in the Palestinian territories. — (MENA Report) 

 

© 2001 Mena Report (www.menareport.com)


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