'Convert numeric character reference notation to unicode string

Is there a standard, preferably Pythonic, way to convert the &#xxxx; notation to a proper unicode string?

For example,

&#1502;&#1508;&#1490;&#1513;&#1497;

Should be converted to:

מפגשי

It can be done - quite easily - using string manipulations, but I wonder if there's a standard library for this.

python unicode encoding

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