MOSCOW, Feb. 9 (Xinhuanet) -- Russian Foreign Minister Sergei Lavrov announced Wednesday that the so-called Mideast quartet willhold a meeting in London on March 1 to discuss financial aid to Palestine, the Interfax news agency reported.

    At a news conference here, Lavrov said Russia had initiated themeeting of the Mideast quartet which comprises the United States, the European Union, Russia and the United Nations.

    The conference "is intended to outline ways to support socio-economic development and reforms in the Palestinian territories," Lavrov said.

    The foreign minister said Russia welcomes Israeli Prime Minister Ariel Sharon's statement on withdrawing from the Gaza Strip and believes it "may come as a follow-up to other measures taken as part of the Roadmap (peace plan)."

    Moscow supported the US role in coordinating peace efforts between Israel and Palestine, Lavrov added.

    Israeli Prime Minister Ariel Sharon and Palestinian leader Mahmoud Abbas in the Egyptian resort city of Sharm el-Sheikh reached a ceasefire agreement Tuesday bringing an end to the four-year conflict between the two sides. Enditem