PA pays Israel electricity company $200m

A worker walks at the site where a new electricity plant will be built in Jalamah, near the West Bank town of Jenin, following the signing of a new contract on July 10, 2017. [JAAFAR ASHTIYEH/AFP via Getty Images]

A worker walks at the site where a new electricity plant will be built in Jalamah, near the West Bank town of Jenin, following the signing of a new contract on July 10, 2017

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.

READ: Egypt using fake electricity meter readings to overcharge users

(Source / 14.01.2020) 

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