Qatar proposes $1 billion Arab fund for J'lem

Qatar proposed on Tuesday the creation of a $1 billion Arab fund for East Jerusalem, which Palestinians say should be the capital of an independent state under any peace deal with Israel.

Qatar's emir, Sheikh Hamad bin Khalifa Al-Thani, offered to contribute $250 million to the fund, which he suggested at an Arab summit in Doha that focused on the crisis in Syria and stalled Israeli-Palestinian peace efforts. He did not elaborate on the precise purpose of the fund and how the money would be spent. (Reuters)