Arab finance ministers on Sunday said they were committed to activating a so-called $100 million per month "safety net," for Palestinians, Egypt’s state-run Middle East News Agency reported.
The decision by the ministers comes days ahead of a planned meeting in Bahrain where the US is due to discuss the economic component of its plan for peace between the Israelis and the Palestinians.
The ministers, meeting at the Arab League in Cairo, called on its member states to provide soft loans to support infrastructure and development projects in the Palestinian territories. They asked banks in the region to provide similar loans, as part of the safety net, MENA reported.
The financial lifeline had been agreed upon by the Arab League several years ago but has yet to be activated.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.