The United States will provide $440 million in aid to the Palestinian Authority in 2014, most of which will be funneled through the US Agency for International Development, a top Palestinian diplomat revealed on Thursday.

Maen Areikat, who heads the Palestine Liberation Organization’s delegation in Washington, said the US Congress has approved the funding, the independent Ma’an news agency reported.

Most of the money is to be used for development projects and will go through USAID, and only about $70 million of the cash is to be given directly to the PA treasury.

“Despite the endorsement, financial aid to the PA will be affected by progress of the peace process in Palestine,” Areikat warned and noted that in 2013 the US gave $426 million in aid, in 2012 $495 million, and $545 million in 2011.

The diplomat also revealed that the Palestinians have inquired of US authorities about the possibility of reviving a now defunct joint American-Palestinian committee that operated during the 1990s and that focused on political, economical and tourism matters.

The Palestinian Authority has been plagued by mounting debt in recent years.