Sweden to grant $200 million to Palestine

Sweden is set to give Palestine up to 1.5 billion kronor ($200 million) in aid, Foreign Minister Margot Wallstrom has announced, hours after it became the first European Union country to officially recognize Palestine as a state.

Wallstrom said in a statement on Thursday that Palestine fulfilled the criteria for recognition as a state in international law despite it not having fixed borders, and would receive between 500 million kronor ($68 million) and 1.5 billion kronor under a five-year assistance plan.
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