Saudi Arabia, alongside a group of countries, announced on Friday the launch of the Emergency Coalition for the Financial Sustainability of the Palestinian Authority.
Countries which joined the Coalition include Belgium, Denmark, France, Iceland, Ireland, Japan, Norway, Slovenia, Spain, Switzerland, and the UK.
The Saudi Foreign Minister, Prince Faisal bin Farhan, first announced the initiative on Thursday, during a press conference in New York. He added that the Kingdom has pledged $90 million in support for the Palestinian Authority (PA), Saudi Gazette reported.
The Coalition’s formation aims to address the “urgent and unprecedented financial crisis confronting the PA,” according to a joint statement.
“Strengthening the PA’s financial foundations is an investment in peace, stability, and security for Palestinians, Israelis, and the wider region,” the statement stressed.
The Coalition’s main goal is to “stabilize the PA’s finances and preserve its ability to govern, provide essential services, and maintain security,” all vital to regional stability and to preserving the two-state solution.
The statement said that several countries and partners have joined the Coalition, providing substantial financial contributions and pledging continued support for the PA.
“The Coalition will therefore promote a sustainable, predictable, and coordinated approach, working with international financial institutions and key partners to mobilize resources, support ongoing governance and economic reforms, and ensure full transparency and accountability,” it noted.
Moreover, the statement called on Israel to “immediately release all Palestinian clearance revenues and cease any measures that obstruct or weaken the PA or risk its collapse.” They emphasized that these actions threaten Palestinian livelihoods and institutional stability, and undermine regional and international peace and security.
The Coalition also invited other countries and international organizations to join the initiative, which underscores the participating countries’ “commitment to safeguarding the viability of the two-State solution and to advancing a just, lasting, and comprehensive peace.”
