France grants $8.9m to support Palestine economic efforts

France has today agreed to contribute €8 million ($8.9 million) to the Palestinian Authority (PA) and the development of its state institutions, in new efforts by the European country to support the Palestinian economy.

The PA’s Finance Minister Shukri Bishara and French Consul General in Jerusalem Rene Trouccaz signed the agreement in support of the Palestinian 2020 budget, resulting in the contribution towards the Palestinian National Development Plan and it’s building of PA institutions.

Among the sectors that France’s contribution will support are vital services such as energy and water, the Palestinian private sector such as supporting the development of private enterprises, as well as the education sector.

Bishara praised France for its official rejection of the new Israeli coalition government’s plan to annex parts of the West Bank and to impose its sovereignty on the illegal settlements and occupied territories.

Troccaz assured the PA that Paris would continue its support for the Palestinian budget in various other sectors, stating his nation’s aims to strengthen ties with and support the Palestinian economy.

Numerous challenges affect the Palestinian economy due to the coronavirus

Despite long standing ties and relations with Israel, France has been vocal in its condemnation of the country’s plan to annex Palestinian territories, pushing for a tough response by the European Union to Israel if it actions the plans. The European nation has also previously been involved in expanding the Palestinian economy, having pledged to financially support agricultural efforts in the West Bank’s Area C in December last year.