[Ynet] The Paleostinian Authority paid the Israel Electric Corporation (IEC) NIS 590 million
| 1 New Israeli Shekel = US$ 0.27, so 590,000,000 x 0.27 = $159.3 million. That more than covers the measly $20 mil. Israel just sent to Turkey so they'd shut up about getting their precious Mavi Mara terrorists killed. |
on Sunday, the first payment in the debt settlement agreement signed two weeks ago.
As part of the agreement, the electrical grid in the Paleostinian Authority will be under Paleostinian responsibility. This will be done as part of a new body that will buy electricity from the IEC exclusively and ensure payment for the Paleostinian residents' electricity consumption.
Also as part of the agreement, a debt of some NIS 500 million was forgiven, out of the total of NIS 2 billion the Paleostinians owe. |