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Pact inked on developing Palestine's
infrastructure
Wednesday, October 13, 2010 10:13:43 PM,
WAM
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Abu Dhabi:
The UAE charity Red Crescent Authority (RCA) and the Palestine
Investment Fund (PIF), a publicly owned investment fund, have
signed an agreement to develop infrastructure in the West Bank, it
was announced Wednesday.
The organisations will spend 65 million dirhams under the
supervision of the Abu Dhabi city municipality.
RCA chairman Ahmed Humaid Al Mazrouie and PIF advisor Samieh
Hussein Krarkra signed the agreement. It calls for improving
transportation network, water and electricity supply, among
others.
"The implementation of these vital projects comes within the
framework of humanitarian initiatives the UAE is undertaking on
the Palestinian territories as per directives of President Sheikh
Khalifa bin Zayed Al Nahyan," he said.
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