EU launches $1 billion aid initiative for Gaza

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The European Commission launched the Team Gaza Initiative, a $1 billion aid program involving 15 partners to support recovery projects in Gaza. The initiative includes 12 European countries, Japan, the World Bank, and the European Investment Bank.

AMSTERDAM, July 13 (Reuters) - The European Commission said on Monday it had launched an initiative with 15 partners to deliver €883.6 million ($1 billion) in aid to Gaza. It said the "Team Gaza Initiative", launched at the Palestine Donor Group meeting in Brussels, would support ongoing and planned early recovery projects for the people of Gaza. Twelve European countries and Japan joined the initiative, together with the World Bank and the European Investment Bank, the Commission said.($1 = 0.8747 euros) (Reporting by Bart Meijer; editing by Philip Blenkinsop)