US Set to Deliver $150M in Aid to Palestinians
First installment of $550M for strapped Palestinian Authority
By Zach Samalin,  Newser Staff
Posted Mar 19, 2008 6:47 PM CDT
Condoleezza Rice shakes hands with Palestinian Prime Minister Salam Fayyad. The United States agreed today to send $150 million in budgetary aid to the Palestinian government.   (AP Photo)
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(Newser) – The US promised today to transfer $150 million in aid to the economically ailing Palestinian Authority, marking the first installment of $550 million the US pledged at a donors' conference in December, Reuters reports. The contribution will be the largest single donation since the Authority was launched in 1994, Prime Minister Salam Fayyad said.

The Western-backed Authority recently urged donors to make good on December pledges totaling $7.4 billion; Fayyad said today the US transfer "was coming to us at a time of great need." Also in the US pipeline is $148 million earmarked for the UN Relief and Works Agency, to provide services for Palestinian refugees, and another $200 million for development projects.