RAMALLAH, Apr 16 (NNN-WAFA) – The Palestinian government will borrow 400 million U.S. dollars from local banks, during the coming six months, to back its treasury amid the COVID-19 crisis, a senior official said on Wednesday.
Shukri Bishara, Palestinian finance minister, told a news briefing in Ramallah, that, the government agreed with the Palestinian Monetary Authority, to borrow 400 million dollars from local banks during the coming six months.
“The borrowed money will be used as an emergency budget, which was approved by President Mahmoud Abbas, to combat the COVID-19 pandemic in Palestine,” Bishara told reporters.
Bishara also said that the priority of the emergency budget is to focus on ensuring the basic needs of the health ministry and the security apparatuses.
On Apr 8, Abbas issued a decree to start working on an emergency budget in the Palestinian territories.
