The Palestinian Authority (PA) has paid Israeli Electric Corporation 700 million shekels ($202 million) in part payment for debts it has accrued, Israel’s Reshet Bet radio station reported yesterday.
Quoting a PA source, the channel said that the money was borrowed from
Palestinian banks and makes up part payment of the 1.8 billion shekel
($512 million) debt.
According to the Israeli radio, the PA has already transferred ten per
cent of the payment and is to pay the remaining funds this week.
PA officials told Israeli Public Broadcaster Kan that the electricity
supply to the occupied territory would not be improved very much despite
the payment, adding that power outages will continue.
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