Palestinians Get $42-Million Grant
The World Bank announced a $42-million grant to the Palestinian Authority, which was plunged into financial crisis by a drop in revenue after the Islamic militant group Hamas won Palestinian parliamentary elections in January.
A World Bank statement said the money was to help the authority meet immediate financial needs and to “avoid suspension of vital basic services to the Palestinian population.”
Israel, which has refused to recognize Hamas’ election victory, has frozen the transfer of about $50 million a month in customs and tax receipts collected on behalf of the Palestinian administration.
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