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Islamic Development Bank money for Palestine
 Jeddah 3rd May 2001

 The Islamic 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 Summit.

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.

Source: SPA

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05 May 2001 06:11:13 PM

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