PECDAR is the acronym of the Palestinian Economic Council for Development and Reconstruction. The Palestine Liberation Organization (PLO) established PECDAR as an independent institution in 1993 in full cooperation and coordination with the donor community to Palestine in support of the peace process.
The PLO approved the bylaws of PECDAR on Oct. 1993, and in the same year; PECDAR's mandate was endorsed by the general meeting of the donors which was held in Washington D.C. under the chairmanship of former U. S. Secretary of State Warren Christopher and The World Bank.
The mandate covers a wide range of responsibilities including aid coordination, economic policy, project management, coordination with NGO'S and UN specialized agencies, technical assistance and training as well as IT.
Donor's funds are disbursed effectively and efficiently and in the most transparent manner. Funds are project oriented in accordance with national priorities, where project preparation and monitoring is carried out by PECDAR, while project identification is carried out by the relevant ministries and municipalities.
PECDAR is accountable to a Board of Trustees which is headed by President Mahmoud Abbas, and all PECDAR's finances are audited by external auditors as well as donor audit missions.
Projects implemented under PECDAR's rule, are tendered through the local papers and bids are opened in the presence of all competitors. Most of the work is carried by local contractors while technical assistance work is conducted by international firms and consultants.