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Monday, August 04, 2003

Israel Transfers ILS1.25 Billion Withheld Funds To Palestinians

from Dow Jones Newswires
JERUSALEM -(Dow Jones)- The Israeli government has transferred to the Palestinian Authority 1.25 billion shekels ($1=ILS4.4520) withheld since the Palestinian uprising began in late 2000, a spokeswoman for the customs authority said Monday.

That sum represents all the money withheld, minus ILS850 million used to pay the authority's outstanding debts to Israeli utilities and hospitals, she said.

The money - taxes collected by Israel on behalf of the Palestinian Authority under a 1994 peace accord - was transferred over the past seven months.