Arab League chief arrives in West Bank
Saturday, 29 December 2012
RAMALLAH, Palestinian Territories: Arab League chief Nabil al-Arabi arrived in Ramallah on Saturday for a visit to the West Bank, an AFP correspondent said.
Arabi would be joined by 10 Arab foreign ministers, according to the Palestinian Authority's diplomatic head Riyad al-Malki.
Palestinian negotiator Saeb Erakat said last week he expected the League would imminently pay the first installment of a promised fiscal "safety net" of $100 million, as it had promised in the event of Israeli financial sanctions.
On December 2, Israel said it would not transfer tax and tariff funds it collects for the Palestinians this month in response to their successful bid for upgraded UN status to observer state.
Every month, Israel transfers about 460 million shekels ($120 million, 92.7 million euros) in customs duties on goods destined for Palestinian markets that transit through Israeli ports, and which constitute a large percentage of the Palestinian budget.
The transfers are governed by the 1994 Paris Protocols with the Palestinians. (AFP)