Palestinian officials fear the recent agreements between Israel and Arab nations will result in a lack of funding, according to a report on Thursday.
The Palestinian government hasn’t received a morsel of financial aid from Arab Gulf states since March, as well as a 50 percent decrease in foreign aid, the Jerusalem Post reported, citing data from the Palestinian Finance Ministry Service and The New Arab.
Overall, it said Ramallah’s total revenues fell by about 70 percent this year.
Foreign aid to the Palestinian government plummeted to $255 million in the first seven months of the year from $500 million last year.
At the same time, aid from Arab countries dropped to $38 million from $267 million in 2019.
Palestinian Foreign Minister Riyad Al-Maliki explained to reporters that “most of the Arab countries did not abide by the decisions of the Arab summits to provide a financial safety net of $100 million for Palestine in the face of US and Israeli sanctions.”
The report pointed out that the cut in funding happened during the coronavirus pandemic, but also as the Trump administration was brokering ties between Israel and a number of Arab countries.
President Trump stopped sending millions of dollars of US aid to the Palestinians and has urged Arab nations to stop cutting checks, as well.
After Bahrain and the United Arab Emirates agreed to normalize ties to Israel in a ceremony at the White House, Trump predicted that Palestinians would be isolated as other countries try to make similar deals with the Jewish state.
“We do not know if this was the result of the financial repercussions of the coronavirus pandemic, or at the request of the United States, as President Trump said,” Al-Maliki said.
“But the result is the same,” he added.
The loss of aid has forced the Palestinian government to increase domestic borrowing and go in search for new revenue streams.
The European Union has also ordered an investigation into how aid from the countries in the trading bloc end up in the hands of Palestinian terrorists and insisted that loopholes that allow the transfer of funds to be closed.
New York Post
- Match Day 6: Three key Premier League matches to watch this weekendOctober 24, 2020The Premier League match enters week six as we look forward to mouthwatering games at the weekend. Chelsea would take on Manchester United, the same ...[Read more]
- Nadia Buari sympathies with Nigerian over #EndSARS protestOctober 24, 2020Ghanaian actress who has played many roles in Nollywood movies, Nadia Buari has sent her words of sympathies and encouragement to the Nigerians who ...[Read more]
- Omotola Jalade-Ekeinde asks Nigerians for forgiveness over Lekki Protest commentOctober 24, 2020Omotola Jalade-Ekeinde has retracted and requested for Nigerians forgiveness for the uncaring comment she made on her Twitter page following the ...[Read more]
- “IF YOU EVER GET TIRED,LEARN TO REST NOT QUIT”, Somadina motivates fansOctober 24, 2020Popular Nigerian actor and ex-lover of Nigerian billionaire’s wife Regina Daniels, Somadina Adinma has taken to social media to motivate his fans and ...[Read more]
- See what Davido’s new post that got fans talkingOctober 24, 2020Nigerian singer and songwriter Davido has taken to social media to reveal his belief. Even though some people believe that God does not exist, the ...[Read more]
- EndSARS protesters have reportedly set ablaze the statue of the late Dr Nnamdi Azikiwe at Awka, See whyIn EndSARSOctober 24, 2020Angry EndSARS protesters have reportedly set ablaze the statue of pioneer President of Nigeria, the late Dr Nnamdi Azikiwe at Denis Memorial Grammar ...[Read more]
- Nollywood actress Destiny Etiko Lament over the current state of NigeriaOctober 24, 2020Nollywood actress Destiny Etiko has taken to social media to lament over Nigeria being a fail country because of bad leaders. Destiny Etiko The ...[Read more]
- Please stay at home if you don’t have any need to go outside, BBNaija Wathoni advises LagosiansIn BBNaijaOctober 24, 2020Former BBNaija housemate Wathoni has advised citizens to stay at home if they do not have anything to do outside. Wathoni The Lagos state government ...[Read more]
- Arsenal vs Leicester City: Arteta provides update on Willian, Ceballos, othersIn SportsOctober 24, 2020Arsenal boss, Mikel Arteta, has provided the latest update on Willian and Dani Ceballos ahead of his side’s Premier League clash with Leicester City ...[Read more]
- Manchester United vs. Chelsea: Three significant points ahead of the weekend showdownIn SportsOctober 24, 2020Manchester United would lock horns with Frank Lampard’s side as the Premier League gets hot by the day. The match will be laden with expectations as ...[Read more]