ISRAEL TO GIVE P.A. $400 MILLION

Israel to transfer $400 million to PA (YNet)
Israel is expected to release withheld tax funds to the Palestinian Authority just in time for a four-way Middle East summit in Sharm el-Sheikh next Monday. The issue will be discussed and decided on during the weekly Knesset meeting on Sunday.

Israel is currently in control of about $400 million in Palestinian taxes, which have not been transferred to the PA as of yet due to Hamas’ rise to power.

However, following the establishment of a new emergency government headed by Salam Fayyad, the United States and Europe have resumed financial aid to the Palestinians, prompting Prime Minister Ehud Olmert to allow the flow of funds into the Authority.