Israel has agreed to release about $US 350 MLN to the emergency Palestine's government. It is part of the aid package aimed at bolstering President Mahmoud Abbas' administration against Hamas – the group which has taken over control of Gaza.
The money comes from Palestinian tax revenues withheld by Israel for 16 months – since Hamas won the parliamentary elections in January 2006. The decision was made at a governmental meeting aimed at discussing goodwill gestures to support Fatah against Hamas. However, since Mr Abbas expelled Hamas members from the government, Israel is expected to gradually release frozen funds. On Monday, there will be a summit in the Egypt resort of Sharm-el-Sheikh, where leaders from Jordan, Egypt and Israel will gather to show their support to Abbas.