This eighth European Union contribution is funded from the €158 million European Commission 2010 support package and from a 50 million Swedish Kroner contribution from the Government of Sweden.
'The European Union's continuing financial support to the Palestinian Authority underlines the great confidence that the EU has in the ability of the Palestinian Authority's Ministry of Finance to manage public funds to the highest international standards' said Head of Operations at the Office of the EU Representative Roy Dickinson, 'The contribution of the government of Sweden, for its part, demonstrates the confidence that Sweden has in the EU's PEGASE mechanism as a cost-effective and efficient means of supporting the Palestinian Authority in its efforts to build the institutions of the future Palestinian State.'
PEGASE channels EU assistance to help build a Palestinian State, in accordance with the priorities and needs identified by the Palestinian Authority (PA) in its three-year reform and development programme (PRDP). Launched by the European Commission on 1 February 2008, it is the main financing mechanism of the European Union to support the PA in achieving the ambitions of the PRDP. As well as helping to meet a substantial proportion of its running costs, European funds support major reform and development programmes in key ministries, to help prepare the PA for statehood in line with the plan proposed in August 2009 by Prime Minister Salam Fayyad.
Since 2007 the EU has provided total assistance to the Palestinian people, including civil society organizations and refugees, averaging more than €500 million annually.
