EU donates over three million euros for Gaza private sector

The European Union announced Monday that it will donate 3.58 million euros (4.67 million U.S. dollars) as part of its 22-million-euro (28.7 million dollars) aid program for the Palestinian National Authority to rebuild the private sector in the Gaza Strip.

The 3.58 million euros (4.67 million dollars) are part of a 22- million-euro (28.7 million dollars) program for the PNA to revitalize the private sector in the Gaza Strip, Christian Burger, the EU representative in Ramallah, said in a statement.

The money is the second allocation of funds that will cover 240 applications as part of the program, Burger said, adding that the rest of the money will be paid in the future.

"The aim of the program is to support projects in the Gaza Strip as an initial step to build an economy led by the private sector, a matter that will help create jobs for the Gaza Strip population," Burger said.

The PNA government is committed to encouraging the economical activities in the Gaza Strip, Palestinian Prime Minister Salam Fayyad was quoted by Burger as saying.

"The program of rebuilding the private sector will contribute to putting it on the right track," Fayyad said. "We hope that such programs will help the process of flourishing the economy."

The PNA has carried out a program of rebuilding the private sector in the Gaza Strip, which have been ruled by Hamas since June 2007, right after Israel's large-scale offensive of Cast Lead that was launched on the Gaza Strip in December, 2008.

The EU has provided financial aid for the Palestinians since 2007, including the civil society and refugees, with 500 million euros (652 million dollars) every year.

Source: Xinhua