According to an article in the New York Times, Mamoud Abbas, the Palestinian president, plans to ask foreign doners to provide $5.8 billion in aid through 2010. This is nearly twice the current foreign aid level. Abbas says he needs help with a huge deficit resulting from years of strife. He is also promising to curb spending and stimulate economic growth. His government is giving its development plan for 2008 through 2010 to officials from donor countries today.
Seventy percent of the aid will be set aside for continuing operating expenses. This includes $120 million each month for wages for public employees. Thirty percent of the aid will be used for development projects.
The government hopes to gradually decrease its deficit, become less dependent on aid, and stimulate its economy, including private investment. However the considerable donor fatigue must be taken into account.
Since the mid 1990s foreign donors have sent million and billions of dollars into palestinian territories to support peace efforts. Unfortunately gains have largly been wiped out due to Israeli-Palestinian fighting. Critics also say large amounts of money went to corrupt officials.
Above all else, I hope a lasting peace agreement is finally reached in the Arab-Isreali conflict. I hope the Isreali government recognizes the Palestinian's right of return and the violence comes to an end.
source:http://www.nytimes.com/2007/12/06/world/middleeast/06palestinians.html?_r=1&oref=slogin
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