Algeria Transfers $26m to Alleviate PA’s Financial Crisis

CAIRO, January 1, 2013 (WAFA) – Algeria transferred $26 million to the Palestinian Authority to help it solve part of its severe financial crisis, deputy Arab League secretary-general Ahmed Ben Helli said Tuesday.

He said that Algeria has informed the Arab League that it has decided to transfer the $26 million, which were due in April, to alleviate part of the PA’s severe financial crisis.

Ben Helli said Arab League Secretary-General Nabil Elaraby has sent urgent letters calling on Arab governments to speed up the implementation of the monthly $100 million safety net agreed on in the Baghdad summit to help the PA overcome its financial crisis that led to PA’s inability to pay salaries for its employees.

The $100 million equal the amount of Palestinian tax revenues that come through Israel and which Israel has decided to freeze to punish the PA for becoming a non-member state of the United Nations.

Source: WAFA News