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The European Commission has said it will provide the Palestinian Authority with 400 million euros ($435.5m) in emergency financial support in the coming two months amid concerns within the EU that the authority could collapse, Reuters reports.
The money will be disbursed in the form of grants and loans in three payments between July and September, subject to progress in the implementation of the reform agenda of the Palestinian Authority, the commission said in a statement.
“Together, we are laying the groundwork for economic and political stability in the West Bank,” European Commission President Ursula von der Leyen said.
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