The European Union is to send the Palestinian Authority (PA) financial aid worth €400 million ($435 million) in loans and grants over the next three months. The European Commission announced the financial assistance package on Friday but stressed in a statement that the funds are “subject to progress in the implementation of the reform agenda” of the PA. The €400 million is to be disbursed in three payments between July and September and is designed to stabilize the financially-stricken PA and the economy in the West Bank. The PA governs in parts of the West Bank and was driven out of Gaza by …