Israel and the Palestinian Authority have reached a deal to settle the Palestinians’ outstanding debt of $530 million to the Israel Electric Corporation (IEC), Israel’s Channel 2 reports. One-quarter of the debt is to be paid immediately, one-quarter is to be erased, and half is to be repaid in installments.
The agreement requires the PA to collect unpaid electricity bills from Palestinian customers in the West Bank. Moreover, the PA will assume full responsibility for paying the IEC, which formerly had to collect from several different local electricity companies in the West Bank. Norway, which heads the forum of donor states to the PA, oversaw the negotiations.
David Steger – Matzav.com Israel