Agreement has been reached by which Israel will hand over 1.85 billion shekels in tax revenue funds to the PA (Palestinian Authority). The funds were frozen by Israel in December 2014 after PA leader Abbas (Abu Mazen) announced he was going to file against Israel in the International Court of Justice in The Hague.

Israel a number of weeks ago announced it was going to hand over the funds in response to mounting international pressure, but Jerusalem stated it was going to deduct the sum owed to Israel Electric Company and hospitals, which is about a third of the total sum. Abu Mazen protested, instructing PA officials not to accept the money if anything whatsoever is deducted by Israel.

As per the agreement reached over the weekend by the IDF Coordinator of Activities’ in the Territories Major-General Yoav Mordechai and the PA, the PA will accept the tax revenue funds minus an approximately 700 million shekel deduction to pay debts to Israeli companies.

The sides agreed to establish a steering committee which will map out the remaining payment as the PA owes an additional 2 billion shekels for services and to Israeli hospitals.

(YWN – Israel Desk, Jerusalem)