Palestinian Connection
Thursday, April 29, 2010
Palestinians Squandering Foreign Aid
Top Palestinian economist admits billions in foreign aid have gone to waste | Ryan Jones
CORRUPTION AND MISMANAGEMENT: The Palestinian Authority, led by Mahmoud Abbas, has wasted billions of dollars in international aidThe Arabs living under the Palestinian Authority (PA) in Judea and Samaria (the so-called "West Bank") have received more than $1 billion in international donations annually over the past decade, by far the most foreign aid per capita of any people group on earth. The annual amount of aid is greater than one-fourth of the entire Palestinian economy.
Such an influx of capital should have an extremely positive impact. And yet, the Palestinian economy continues to sputter as more and more cash pours in.
A top Palestinian economist acknowledged in an address to the United Nation's Seminar on Assistance to the Palestinian People that most of the foreign aid is either being siphoned off by corrupt officials or simply squandered by mismanagement.
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