Israel to transfer more money to Gaza: source

08:53, July 22, 2010      

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Israel decided to transfer to the Gaza Strip some 100 million Israeli shekels (around 26 million U.S. dollars) in total in the recent days, sources told Xinhua on Wednesday.

The Israeli Cabinet ministers convened Wednesday, discussing the situation in Gaza after Israel eased its siege on the Palestinian strip.

According to sources close to the government, Israel has transferred 50 million shekels to Gaza banks, and is slated to offer another 50 million shekels in the coming days.

The money transfer is in part due to a shortage of cash in Gaza banks as a result of increased trading activities after the blockage was loosened, a source, insisting unnamed, said.

Meanwhile, intelligence officials told the cabinet meeting on Wednesday that the "trading" activities via tunnels between Gaza and Egypt have been decreasing after Israel changed its Gaza policy.

Israel, under great international pressure, eased its siege on Gaza since last month, including increasing volume of the goods delivered into Gaza and relaxing the types of goods that may be brought into the strip. (1 U.S. dollar = 3.86 Israeli Shekels)

Source: Xinhua


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