International Donors Pledge USD Billions to Rebuild Gaza

World | March 2, 2009, Monday // 00:00
International Donors Pledge USD Billions to Rebuild Gaza: International Donors Pledge USD Billions to Rebuild Gaza During the international donor's conference in the Egypt Red Sea resort of Sharm el-Sheikh, US Secretary of State Hillary Clinton said Washington would donate USD 900 M to rebuild Gaza. Photo by CNN

Participants in the international donor's conference in the Egypt Red Sea resort of Sharm el-Sheikh pledged USD 4,5 B to rebuild Gaza after Israel's recent offensive, BBC reports Monday.

Donations far exceeded the Palestinians' request for USD 2.8 B. Saudi Arabia with the promise of USD 1 B offered the largest contribution.

US Secretary of State Hillary Clinton said Washington would donate USD 900 M, and vigorously seek to advance peace.

The European Commission promised USD 554 M, Japan - USD 200 M. Turkey, Germany, Italy and Algeria also pledged financial assistance.

Israel and Hamas, which controls Gaza but is regarded by both the US and the EU as a terrorist organization, were not invited to attend the one-day conference. The donors wish for the funds to reach Palestinians without being made available to Hamas and announced they plan to open an office in Gaza to manage the funds' distribution themselves.

Israelis insist that they favor the effort to rebuild Gaza, but demand guarantees that the financial aid would not end up in the hands of Hamas.

Palestinian leader Mahmoud Abbas told the summit cash was "insufficient" without a political solution.

The Hamas movement, on their part, welcomed efforts to rebuild Gaza but said it should have been asked to take part. Hamas spokesman Fawzi Barhoum stated that donors had "politicized" aid by handing it to Abbas's Palestinian Authority.

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