Israel to repay $ 800m loan to PA – Middle East Monitor



Israel intends to provide a $ 800 million loan to the Palestinian Authority (PA) to help deal with its problems. financial crisis, Gulf News reported Israeli Channel 12 disclosure on Friday.

PA will receive a loan by installments by the end of the year, Israeli TV reported.

The PA is facing a severe financial crisis as the Israeli government decided on May 11 to deduct 597 million shekels from tax revenues collected by Israel on behalf of the PA

Two weeks ago, PA Prime Minister Mohammad Staye said the total amount held by Israel since 2019 is 851 million shekels, in addition to 51 million shekels held monthly.

Staye said this poses a lot of problems for the PA as donors have not paid their contributions since the beginning of this year.

He noted that his government is under an obligation to borrow money from Palestinian banks to meet the demands of the Palestinian people and the promises of his government.

Read: Palestine condemns Israel’s “illegal” tax deduction


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