G-7 to support Palestinian economy

Finance ministers from the world's seven wealthiest nations said Saturday they were committed to supporting the Palestinian Authority with economic development.

At a weekend summit in London, G-7 finance ministers met with their counterparts from Israel and the Palestinian Authority to discuss financial support in the aftermath of Israel's withdrawal from the Gaza Strip.

In a statement after the meeting, the G-7 said that "economic development of the West Bank and Gaza is an indispensable element of lasting peace in the region."

"We affirm our commitment to supporting the Palestinian Authority in the context of its medium term development plan," the G-7 added.

Britain's Treasury Chief Gordon Brown, who led the talks, said an investors conference would be held in London on December 13.