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Israel transfers $118 million to the Government as the first Customs Funds Payment out of $600-$700 as Palestinian sources stated

2007-07-02

Israel transfers $118 million to the Government as the first Customs Funds Payment out of $600-$700 as Palestinian sources stated

Palestinian officials stated that the Israeli government transferred 500 million NIS (about $118 million US dollars) yesterday to the Palestinian government. This includes the Palestinian Authority’s financial entitlements to collect the customs funds frozen by the Israeli government for than a year and a half. Israeli officials announced that their government will transfer the remaining funds in batches over the next six months without clarifying the value of the remaining funds. But estimated by Palestinian sources it values to an estimated $600-$700 million dollars. At that rate the monthly salary will be paid in full for this month to the Palestinian Authority staff, civilians and military in the West Bank and Gaza Strip. This will take place in a few days after a year and a half of partly salary wages.