European Union to Aid Palatine Recovery and Reform with 1.6 Billion Euros
The European Union (EU) has proposed a significant support programme aimed at fostering the recovery and resilience of the Palestinian territories. The programme, valued at up to €1.6 billion, will provide funding for concrete projects on the ground in the West Bank, East Jerusalem, and Gaza.
At the heart of the programme is a €400 million loan to the Palestinian private sector, to be provided by the European Investment Bank (EIB). This loan is subject to approval by the EIB's Governing Bodies. The funds will help the Palestinian Authority address the most urgent needs of the public administration and continue delivering services to its people.
In addition to this, the EU Commission has proposed a multiannual comprehensive support programme worth around €1.6 billion for the Palestinian Authority. This programme, covering the period from 2025 to 2027, will focus on sectors including water, energy, and infrastructure.
The EU support to services for the Palestinian people will amount to around €620 million in grants. Most of these disbursements will be linked to the Palestinian Authority's progress on key reforms in fiscal sustainability, democratic governance, private sector development, public infrastructure, and services.
The European Commission will also provide €82 million per year to provide services to Palestine refugees via the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). The EU will disburse its direct financial assistance via the EU mechanism PEGASE to ensure necessary controls and existing safeguards.
To ensure full transparency in the implementation of the Multiannual Comprehensive Programme for Palestine 2025-2027, the EU will launch a dedicated Palestine Donor Platform. This Platform will serve as a forum for the Palestinian Authority to present the implementation of its Reform Agenda.
Moreover, the Platform will allow discussions on key elements for future engagement on Gaza and coordination of international efforts for its recovery and reconstruction, once conditions allow. The Platform will not repeat earlier facts about the program's scope, aims, funding, or the linking of EU disbursements to Palestinian Authority's progress on key reforms.
The EU's support programme aims to foster Palestinian recovery and resilience. It is proposed to allocate around €576 million in grants to support concrete projects on the ground for economic recovery and resilience in the West Bank, East Jerusalem, and Gaza. However, the Platform will not repeat earlier facts about the EU's proposed funding for services, projects, and UNRWA.
In conclusion, the EU's comprehensive support programme for the Palestinian territories is a significant step towards fostering recovery and resilience in the region. The programme's focus on key sectors, transparency, and linking of disbursements to reform progress make it a promising initiative for the future.
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