BREAKING NEWS

Saudi to pay $200m. to cash-squeezed Palestinians

By REUTERS

SEPTEMBER 20, 2011 13:03

Saudi Arabia told Palestinian Authority Prime Minister Salam Fayyad on Monday it would contribute $200 million to the PA, the official Palestinian news agency reported, funds that will ease a crippling financial crisis faced by the PA.

Saudi Finance Minister Ibrahim Alassaf called Fayyad to tell him his government would transfer the funds, the WAFA agency reported.

A shortfall in funding from Arab states including Saudi Arabia had been identified as the main cause of the crisis which has highlighted the PA's vulnerability as it prepares to apply for full membership of the United Nations this week.

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