WASHINGTON, D.C. /eNewsChannels/ — US State Dept: Arab business leaders and members of the international community attended the Palestine Investment Conference (PIC) June 2-3 in Bethlehem. The U.S. Presidential Delegation was led by George Mitchell, Special Envoy for Middle East Peace.

France, Italy, and the United States pledged a combined $655M for the development of the Palestinian private sector. These funds will target high-growth sectors, including information and communication technology, housing, and tourism.

These PIC pledges aim to strengthen the Palestinian economy, support institution building, and lay the foundation for a future Palestinian state. The 2010 PIC was the second in a series of investment conferences that continue to generate positive momentum for Palestinian economic development.