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19 Jan, 2007 02:20

Israel to fund Palestinian President Abbas

Israel to fund Palestinian President Abbas

Israel is set to release $US 100 MLN in frozen tax funds to Palestinian President Mahmoud Abbas. It's hoped it will help bolster support for the moderate leader in his standoff with the rival Hamas faction.

It is not clear yet where the money will be spent on exactly, but most of it will be used on humanitarian projects and initiatives supported by the international community.

Controversial information comes on whether or not the money would be used for the funding of President Abbas' presidential guard and to pay the salaries.

Israel collects some $US 50 MLN in taxes every month on behalf of the Palestinians. It cut off transfers last year after the anti-Israeli Hamas took power.