(MENAFN) European Union (EU) foreign policy chief, Catherine Ashton, announced that the union will grant USD9 million to the Palestinian Authority (PA) to develop Area C in the West Bank, reported Qatar News Agency.
The funding agreement, which was inked by Ashton and Palestinian Prime Minister, Salam Fayyad, will endorse Palestinian social and economic development in Area C, where all Israeli West Bank settlements are located.
Fayyad said that providing finances for the development of projects in Area C will improve Palestine's economy, as the area, controlled by Israel, is vital to the state.
According to Ashton, the agreement will enhance bilateral ties between the EU and Palestine, facilitating steps to set up an association agreement with a future Palestinian state.
It is worth noting that the Palestinians have been unable to develop Area C due to Israeli restrictions.
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