Two years ago Salam Fayyad, the prime minister of the Palestinian Authority, promised to have institutions in place to support an independent state of Palestine by August 2011. That time has now come.

Salam Fayyad says he has backing from both the World Bank and the IMF for his blueprint of the new state; and following the upcoming appeal to the UN, an independent Palestinian state is well on its way. 

Fayyad tells Al Jazeera's Teymoor Nabili why Palestine is ready for statehood and the challenges it faces.

"Is it so much to ask for Israel to recognise Palestinian's right to statehood on 22 per cent of British mandate Palestine?" Salam Fayyad, the prime minister of the Palestinian Authority, in conversation with Al Jazeera's Teymoor Nabili

Source: Al Jazeera