Palestinians to receive $75 million from Islamic Bank

Published March 25th, 2001 - 02:00 GMT

The Islamic Development Bank (IDB) decided Wednesday, March 21, to donate more than $75 million to the Palestinians to fund projects in the Gaza Strip and West Bank, the official Saudi Press Agency said. 


The IDB, based in the Saudi Red Sea port of Jeddah, will mostly finance improvements in the infrastructure of the West Bank and Gaza Strip and also projects in the Palestinian educational and health sectors, the agency said. The funds will be donated as part of the one billion dollars pledged to the Palestinians in October at a summit of Arab leaders in Cairo. 


On Tuesday, the IDB announced that it had sent $92 million to Yasser Arafat's Palestinian Authority, which has been crippled by Israel's blockade and refusal to hand over tax revenues since the outbreak of the Israeli-Palestinian clashes in late September. At the Cairo summit, several Arab countries objected to direct aid for the Palestinian Authority, arguing that the self-rule body was not open with its finances. —(AFP)  


© Agence France Presse 2000  

© 2001 Mena Report (

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