EU provides emergency support to Palestine worth 122.5 Million Euros

The European Union announced today the provision of 122.5 million euros in short-term emergency financial support to Palestine.

The EU said in a statement that the support includes 38.5 million euros in grants through the PEGASE mechanism to pay civil servant salaries in the West Bank, and 84 million euros through credit facilities to the Palestine Monetary Authority, provided by the European Investment Bank (EIB).

This payment is the second contribution within the short-term emergency financial support package of 400 million euros announced by the European Union in July 2024.

The statement added that this package is part of an agreed strategy between the European Union and Palestine to address the critical financial and budgetary situation of the Palestinian government and economy. It is a combination of grants and loans that will be disbursed in three installments, as the first installment of 150 million euros was already implemented last July.