$1bn fund set up for Arab East Jerusalem
The Arab League yesterday approved a Qatari proposal to set up a $1 billion fund for Arab East Jerusalem, which Palestinians want as the capital of an independent state under any peace deal with Israel. Qatar's Emir Shaikh Hamad bin Khalifa Al Thani, said his country will contribute $250 million to the fund which will be managed by the Islamic Development Bank. The Fund is to finance projects and programmes that will maintain the Arab and Islamic character of the city and reinforce the steadfastness of its people.
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