Palestinians Seek $40 Billion to Build a State
The Palestinians are asking for $40 billion in international aid to set up an independent state once a peace agreement with Israel is completed, Yasser Arafat’s top economic advisor said Thursday.
Mohammed Rashid said the aid would be needed for Palestinian refugees, infrastructure, budget expenditures and an early-retirement fund. Rashid said the Jewish state would not be expected to come up with most of the money, but “Israel should feel and take great responsibility.”
President Clinton is hosting a summit Tuesday with Israeli Prime Minister Ehud Barak and Arafat, the Palestinian Authority chief, at Maryland’s Camp David retreat to try to work out a framework for a peace treaty. Secretary of State Madeleine Albright also will participate.
Both the Israelis and the Palestinians seem locked in to their current positions by internal problems, as public support for Barak and Arafat fades.
Barak said chances for success at the summit are no more than 50%, “like the toss of a coin.”
Palestinian negotiator Saeb Erekat predicted that a second summit would be needed, with negotiations in between.
The two sides are aiming to complete a peace treaty by Sept. 13. Palestinians say they intend to declare an independent state then, with or without a peace agreement.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
