EU proceeds with first tranche of short-term emergency financial support to the Palestinian Authority
Today, the European Union has disbursed the first tranche of short-term emergency financial support to the Palestinian Authority. As announced on 19 July, EU assistance helps address the most pressing financial needs of the Palestinian Authority and supports its substantial and credible reform agenda. The disbursement follows the signature of a Letter of Intent by the European Commission and the Palestinian Authority, setting out a strategy for addressing the critical budgetary and fiscal situation of the Palestinian Authority.
European Commission President Ursula von der Leyen said: ‘A strong and reformed Palestinian Authority is key to our common goal of a two-state solution. This is the only way to bring sustainable peace for both Israelis and Palestinians. The EU is fully committed to support the Palestinian Authority in these difficult times. Our pound 400 million emergency assistance supports a substa
ntial reform agenda and paves the way for the recovery and reconstruction of Gaza.’
As part of the pound 400 million EU short-term emergency financial support, the first instalment of pound 150 million has been released today. This includes pound 58 million in grants through the PEGASE mechanism to pay salaries and pensions of the civil servants in the West Bank and support vulnerable families. The European Investment Bank is providing pound 92 million through a credit line to the Palestine Monetary Authority.
Subsequent payments of this short-term emergency financial support should follow in August and September, subject to progress in the implementation of the reform agenda of the Palestinian Authority.
In early September, the Commission will present a legislative proposal for a Comprehensive Programme for Palestinian Recovery and Resilience, which will be designed to help the Palestinian Authority reach budgetary equilibrium by 2026 and ensure long-term financial sustainability. Starting towards the end
of the year, all disbursements under this long-term initiative will be subject to progress in the implementation of the agreed-upon reform milestones.
The European Union is the biggest provider of external assistance to the Palestinians, amounting to indicatively almost pound 1.2 billion for 2021-2024 under the European Joint Strategy, of which over pound 890 million have already been adopted.
More information is available online in the press release published on 19 July, as well as in our factsheet.
(For more information: Peter Stano – Tel.: +32 2 295 45 53; Piotr Cichocki – Tel.: +32 229-58445)
Commission confirms Ireland’s participation in the Pact on Migration and Asylum
The Commission welcomes Ireland’s decision to opt-in to seven legal acts under the Pact on Migration and Asylum, as notified on 27 June 2024. As stated by President von der Leyen, the Pact will help to protect people, to secure our borders, to ensure fair and efficient procedures and to manage migration in an orderly way with solidar
ity at its heart. Ireland’s decision to opt-in demonstrates the country’s dedication to shared European values and its willingness to contribute to improved migration management across the EU.
Today, the Commission adopted the Decisions that confirm the participation of Ireland in seven legislative acts under the EU Pact on Migration and Asylum: Reception Conditions Directive, Qualification Regulation, Asylum Procedure Regulation, Union Resettlement Framework Regulation, Asylum and Migration Management Regulation, Eurodac Regulation and Crisis and Force Majeure Regulation. Today’s Decisions confirming the participation of Ireland in the Asylum Procedure Regulation and Reception Conditions Directive enter into force the day after its publication in the Official Journal. The other five Decisions will enter into force on the 20th day following the publication in the Official Journal.
Source: Cyprus News Agency