EU allocates 150 million euros emergency aid tranche to Palestine
The European Union has allocated to Palestine a tranche of short-term emergency financial aid worth 150 million euros, the press service of the European Commission reported on Wednesday.
“As part of the EU’s 400 million euro short-term emergency financial assistance, the first tranche of 150 million euros was allocated today,” the European Commission said in a statement on its website.
It is specified that of this amount, 58 million euros will be provided in the form of grants through the PEGASE mechanism to pay salaries and pensions of civil servants and support families in vulnerable situations, while 92 million will be provided under the credit line of the European Investment Bank.
Subsequent disbursements under this financial support will be disbursed in August and September, subject to progress on the Palestinian Authority’s reform programme, the EC adds.
