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European Union starts spending 300 million euro, 176 million had been transferred to the PNA treasury.

2008-03-26

 The Prime Minister Dr.Salam Fayyad and the European commissariat president in Deputy Roy Dexson, signed yesterday in the ministry headquarter an agreement which guarantee the European Union to transfer 176 million euro ($250 million) to the PNA treasury. This amount is a part of the 300 million euro that the European commissariat had announced to spend from 440 million that had been pledged by the union in Paris conference in order to support "the development and reformation plan". Fayyad stated to the press after signing the agreement that the European donation comprises the first part of the commitments that had been pledged by the union and declared by the union" public relations representative Benita Ferrero Faldner. The Prime Minister said that this donation will help covering several needs, where 95 million euro will be specialized for salaries, 56 million to finance fuel to electricity generation station in Gaza, 5 million to operating expenses in the ministries, 10 million for most poor families" allowances, and 10 million to pay private sectors liabilities.