**Cyprus Among European Nations Committing Funds to Support Palestine**
In a significant move to bolster financial support for the Palestinian Authority, Cyprus has joined ten other European nations and the European Union in pledging a total of €41.7 million. This commitment was announced during a recent agreement facilitated by the European Commission, which characterized these funds as “new contribution agreements” aimed at aiding the Palestinian people.
The funds will be distributed through Pegase, the EU's financial support mechanism for Palestine, established in 2008. Cyprus is collaborating with Belgium, Denmark, France, Greece, Ireland, Italy, the Netherlands, Portugal, Spain, and Switzerland as part of this initiative. The European Commission has emphasized that this new funding is part of a broader commitment, which includes an additional €310 million earmarked for the Palestinian Authority for the current and upcoming year.
Since its inception, Pegase has facilitated the donation of approximately €3.8 billion to the Palestinian Authority. The European Commission has highlighted that Pegase maintains “high standards of control” and significantly reduces transaction costs associated with financial support. This mechanism is designed to enhance transparency and the effectiveness of international contributions.
The announcement coincides with the launch of the “Team Gaza initiative,” which aims to mobilize nearly €900 million in financial contributions to support early recovery efforts in Gaza. This initiative was spearheaded by European Mediterranean Commissioner Dubravka Suica and was attended by Cyprus’s Foreign Minister Constantinos Kombos, who represented Cyprus as one of the EU’s member states.
The Team Gaza initiative is a collaborative effort involving multiple governments and international organizations, including Belgium, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Spain, Sweden, Switzerland, the United Kingdom, the European Investment Bank, and the World Bank. The initiative has attracted interest from additional countries, such as Australia and Canada, which are expected to join the effort.
The foundation of the Team Gaza initiative is based on a joint assessment conducted by the EU, the United Nations, and the World Bank. Released in April, this assessment highlighted the urgent need for reconstruction in Gaza, estimating that approximately US$71.4 billion (€62.6 billion) will be necessary over the next decade. Of this total, US$26.3 billion (€23.1 billion) is required by the end of next year to address immediate needs.
The initiative aims to coordinate early recovery projects in Gaza, focusing on restoring essential services for the population. Key areas of support include water and sanitation infrastructure, debris management, health services, energy, agriculture, and food systems.
Following the initiative's launch, Commissioner Suica expressed the EU's commitment to contributing to Gaza's recovery efforts. She stated, “Through the Team Gaza initiative, we will launch concrete projects that will restore essential services and improve people’s daily lives. Our objective is clear: to help build hope, resilience, and a better future for the Palestinian people.”
The EU's foreign affairs chief, Kaja Kallas, reiterated the bloc's role as a reliable partner for the Palestinian people, emphasizing that the EU is the largest donor and a strong advocate for a two-state solution. She underscored the importance of the Palestinian Authority implementing reforms and enhancing its governance capacity to effectively utilize the support provided.
Kallas noted, “The people of Gaza need sustained financial support to meet basic needs, recover, and rebuild their lives.” She concluded by affirming that while the establishment of a Palestinian state must be led by the Palestinian people, it requires robust backing from the international community, as demonstrated by the collective commitment of countries gathered in Brussels.
As Cyprus continues to engage in international efforts to support Palestine, this financial pledge reflects the island's commitment to humanitarian aid and regional stability. The ongoing collaboration among European nations and international organizations highlights a concerted effort to address the pressing needs of the Palestinian people and contribute to long-term recovery and development in the region.