International Coalition Forms to Support Palestinian Authority Amid Financial Crisis
Twelve countries, including Belgium, France, the UK, Spain, and Saudi Arabia, are forming a coalition to provide financial support to the Palestinian Authority. The political organisation is in financial difficulty because Israel is withholding tax revenues following the terrorist attack by Hamas on 7 October 2023, reports 24brussels.
The coalition, termed the Emergency Coalition for the Financial Sustainability of the Palestinian Authority, was created “in response to the urgent and unprecedented financial crisis” as stated by the Spanish ministry of foreign affairs. Its primary goal is to stabilize the finances of the Ramallah-based authority to ensure the provision of essential services and maintain security, which are crucial for regional stability and the preservation of the two-state solution.
The coalition underscores its commitment with “significant financial contributions” previously made and emphasizes pledges of “sustained support.” Other countries joining this coalition include Japan, Denmark, Iceland, Ireland, Norway, Slovenia, and Switzerland.
As part of this initiative, the Palestinian prime minister’s office has announced that donors have committed to providing a minimum of $170 million. The Saudi foreign minister disclosed on Thursday evening that Saudi Arabia will contribute $90 million, according to state media.
The coalition advocates for Israel to immediately release all withheld Palestinian tax revenues and to halt actions that undermine the survival of the Palestinian Authority. According to the involved ministers, these measures jeopardize not only the livelihoods and institutional stability of the Palestinians, but also threaten regional and international peace and security.