2 March 2009 347 views No Comment Email This Post

An international conference to help rebuild the Gaza Strip got underway Monday in the Egyptian Red Sea resort of Sharm el-Sheikh.

The Palestinian Authority had hoped to raise $2.78 billion in aid, including $1.33 billion to rebuild the coastal strip after Israel’s three-week military offensive in January. Here are some of the pledges announced ahead of the one-day event.
• Gulf Arab states plan to pledge $1.65 billion in aid over a period of up to five years.
• The United States will pledge $900 million, of which $300 million will be earmarked for Gaza. The rest will be to support the Palestinian Authority’s economic reforms and budget shortfalls.
• The European Commission will pledge 436 million euros ($552.6 million) both to the reconstruction of Gaza and the reforms of the Palestinian Authority.
• Britain said it would pledge £30 million ($43 million) to help rebuild Gaza’s economy