Report: Saudi Arabia Pledges $60 Million to Palestinian Authority, Easing Financial Strain

Saudi Arabia has pledged to provide tens of millions of dollars in financial aid to the struggling Palestinian Authority (PA), reopening funding lines that were shut down nearly a decade ago, The New York Times reported on Monday.

The Saudi Foreign Ministry announced that it would transfer funds to assist with the “humanitarian situation in Gaza and surrounding areas” without specifying the amount of recipients. A senior PA official told The New York Times that the total support would reach $60 million, provided in four installments, with the first expected in the coming days. Other Palestinian officials and diplomats confirmed the aid would total tens of millions of dollars.

This financial aid comes as the PA faces a severe financial crisis due to dwindling international support, Israeli tax withholdings, and reduced revenue from Palestinian laborers. The Saudi support, though not enough to fully stabilize the PA’s finances, signals a strengthening of ties between Saudi Arabia and Palestinian leadership. This move could also reflect Saudi efforts to bolster support for the establishment of a Palestinian state, a crucial factor in any future Saudi-Israeli normalization.