7.4 billion for faltering Palestinian economy

        International donors pledged $7.4 billion to the Palestinian Authority at a fundraising conference in Paris, French Foreign Minister Bernard Kouchner announced Monday evening. Palestinian Prime Minister Salam Fayyad had asked donors meeting in Paris for $5.6 billion by 2010 to help realize his plan to develop a viable economy for a future state. "We see this conference as an important vote of confidence on the part of the international community," Fayyad said as the conference wrapped up. Some $3.4 billion of Monday's pledges would be handed over to the Palestinians in 2008, diplomats said. Fayyad promised that the donated funds would be transferred to the West Bank and the Gaza Strip. "The money is meant for all Palestinians and will be budgeted according to the Palestinian government under the leadership of elected the elected president, President Mahmoud Abbas," Fayyad emphasized. He also said that that the Palestinian government would monitor the manner in which the money was used.(23,00)