Palestine Investment Fund

Reprinted from the U.S. Department of State Website.

Office of the Spokesman

Washington, DC. March 11, 2003. March 10, 2003 Press Briefing

Answer: We are reviewing the valuation and transparency reports prepared by Standard and Poor’s and the Democracy Council for the Palestine Investment Fund. These are straightforward, hard-hitting reports, particularly in their direct criticism of corruption and mismanagement. We view the reports as an important step in the ongoing, positive efforts within the Palestinian leadership to bring a new level of transparency to Palestinian finances.

We welcome this sign of progress and will continue to support this and other efforts by Palestinians to establish institutions of good governance, in preparation for Palestinian statehood.

Released on March 11, 2003