EU readying immediate aid package for Palestinians

DAVOS: The European Commission is preparing a 70 million euro ($91 million) immediate aid package for the Palestinian Authority to support new President Mahmoud Abbas’ peace and reform efforts, an EU source said on Wednesday. Speaking on the eve of Abbas’ first visit to Europe since his election on Jan. 9, the source said the money could be released as early as next week through a World Bank trust fund set up to ensure Palestinian funds are properly accounted for. “We want to give an immediate boost to Abu Mazen (Abbas) and show the Palestinians that the international community will back his drive to establish security and reform the Palestinian institutions with concrete assistance,” he said. Abbas travels to Switzerland on Thursday to attend the World Economic Forum and may meet senior Israeli officials, including Foreign Minister Silvan Shalom and Vice Prime Minister Shimon Peres, on the sidelines of the annual gathering of political and business leaders. The EU plan is designed to convey a sense of urgency and reward Abbas for bold moves he has made to persuade militant groups to stop attacks on Israel and to deploy Palestinian security forces to enforce a ceasefire. reuters

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