Saudi Arabia grants Palestinian Authority $100 million

Palestinian President Mahmoud Abbas and King Abdullah bin Abdul Aziz Ramallah – Sona Adeek and Jamal Al Sheikh The Kingdom of Saudi Arabia on Sunday granted $100 million to the Palestinian Authority (PA) to help resolve its financial crisis. Palestinian President Mahmoud Abbas and Prime Minister Salam Fayyad thanked Saudi monarch King Abdullah Bin Abdul Aziz for his contribution to the treasury.
Saudi Finance Minister Ibrahim Al-Assaf told Fayyad Sunday afternoon in a telephone call, that Abbas had requested the transfer during his recent visit to Saudi Arabia. The king readily agreed to transfer the amount to Palestine's National Treasury.
Fayyad said: "This generous step is added to the record of financial and political support provided by the Kingdom to our Palestinian people...this support will have a deep impact on strengthening the steadfastness of the people in Gaza Strip and the West Bank, including Jerusalem."
President Abbas met last Friday in Jeddah with the Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz, and discussed Palestine's bleak economic situation.
The PA last week revealed it was facing a financial crisis and that it would only be able to pay 60 percent of employees' salaries.
A spokesman for the Palestinian government, Ghassan al-Khatib told Arabstoday that the government thanked the Kingdom for this grant and was considering paying the remainder of the salaries.