15.05.2013 - Palestinian Investment Fund needs reform
The Palestinian Investment Fund (PIF) is a sovereign fund for the Palestinian Authority (PA) intended to manage PA investments inside and outside Palestine. The PIF was established in 2003 to satisfy the international communityís request that then President Yasser Arafat promote transparency and declare the PAís properties and investments. At the time, it was interpreted as an attempt by donor countries to reduce Arafatís powers, restrict his control over public money and constrain his freedom in spending funds from outside the budget. Arafat was accused of running non-registered investments to spend on military matters and misallocating some aid from donor countries intended for refugee camps in the diaspora, especially in Lebanon...............................................Full Article: Source
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