Development Bank (IDB) has deposited $15 million at the account of the
Unified Treasury of the National Palestinian Authority.
This sum constitutes the third monthly installment of the loan
approved by the Supreme Council for the Funds of al-Aqsa and al-Quds
intifada to support the budget of the Palestinian National Authority,
said a press statement issued by Dr Ahmed Mohammed Ali, the President
of the IDB.
The Supreme Council for the Funds of al-Aqsa and al-Quds intifada
earlier approved two loans amounting to $60 million and $18 million in
support of the budget of the Palestinian National Authority.
The loans are to be paid in monthly installments into the account
of the Unified Treasury of the National Palestinian Authority.
This financial support comes in line with the decisions taken at
the Extraordinary Arab Summit Conference held in Cairo last October.
The Summit decided on the establishment of the Funds of al-Aqsa and
al-Quods intifada in response to a proposal submitted by Crown Prince
Abdullah bin Abdul Aziz, the Deputy Premier and Commander of the
National Guard, who led the Saudi delegation to the Extraordinary Arab
The two funds aim to assist the families of the Palestinian
martyrs, to help to preserve the Arab and Islamic characteristics of
al-Quds and to enable the Palestinian economy to develop and grow.