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    G8 for providing Palestine with $9 bn aid in three years

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    GLENEAGLES (Scotland), July 8 (RIA Novosti) - G8 countries have backed an initiative made by James Wolfensohn, a former World Bank chairman and now the Middle East Quartet's special envoy for Gaza Disengagement, to allocate up to $3 billion in annual aid to Palestine in the next three years.

    The group of the world's leading industrialized nations is ready to mobilize all efforts to support Wolfensohn's plan and expects his initiative to be further developed and presented to the Middle East Quartet (the U.S., Russia, the UN and the EU) and the international community in September, the Middle East statement of the Gleneagles G8 summit said.

    The G8 urged investors to join the process, and also called on Arab nations to contribute to international aid.

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