EU Pledges 440 Million Euros to Palestinians

The European Commission today pledged 440 million euros ($650 million) of grant aid to the Palestinians for 2008 at an international donors' conference in Paris.

"The Paris Conference will demonstrate the support of the international community to the building of a Palestinian State," said EU Commissioner for External Relations Benita Ferrero-Waldner. "The EU has made a significant pledge, however it is essential that other donors, including the Arab countries, share the burden with us."

The European Commission is the largest single donor to the Palestinian people. In 2007, the European Commission provided 550 million euros in assistance which together with the Member States' contributions amounted to a total EU aid of 1 billion euros.

Commissioner Ferrero-Waldner said that financial assistance can only make a difference if it complements the political process launched in Annapolis. "We are determined to support and accompany this process which will only be successful with a comprehensive approach involving all actors in the region."

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