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The offer came as Israel expanded its offensive across Gaza over
the weekend.
More than a third of the money, to be provided over two years,
will come as direct budget support to the Palestinian Authority
and it's aimed at improving financial sustainability, democratic
governance and services to help the private sector develop.
“Our program aims to support the Palestinian people in building
a sustainable future," said EU Mediterranean Commissioner
Dubravka Šuica. “It’s about the governing capacity. It’s about
advancing economic recovery. It’s about strengthening the
resilience of the private sector.”
Speaking to reporters after talks in Luxembourg with Palestinian
Prime Minister Mohammad Mustafa, she said "a well-functioning
and reformed Palestinian Authority must play a central role in
the post-conflict governance of Gaza. This is our position.”
Over 576 million euros ($653 million) in grants will go to fund
projects in several sectors across the Palestinian territories,
with 82 million euros ($93 million) going to the U.N.
Palestinian refugee agency.
The private sector can benefit from up to 400 million euros
($456 million) in low-cost loans from the EU, the world's
largest aid donor to the Palestinians.
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