The European Union on Monday announced a new financial aid package for the Palestinian people worth €1.6 billion, to be delivered over three years until 2027, according to AFP.

EU Foreign Policy Chief Kaja Kallas wrote in a post on X, “We are strengthening our support for the Palestinian people. €1.6 billion until 2027 will help stabilize the West Bank and Gaza.”

The initiative reflects the EU’s continued commitment to humanitarian and development efforts in the Palestinian territories amid ongoing challenges facing the population.