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Palestinian businessmen to lend PA $150m for 3% interest

June 20, 2019 at 4:53 am

Palestinian businessman Muneeb Al-Masry has announced that 50 Palestinian businessmen will lend Palestinian Authority (PA) $150m to help it deal with the current financial crisis, Al-Wattan Voice reported on Wednesday.

Speaking to Al-Wattan Voice, Al-Masry said that 50 Palestinian businessmen from Palestine and abroad to offer the loan to the PA.

“The PA and the businessmen agreed to start transferring the money from the next months, and the money will be transferred in four instalments,” Al-Masry said.

The PA to pay 3% interest and would give priority to repay this money to the Palestinian businessmen as soon as the financial crisis was solved and the PA started to receive the tax revenues collected by Israel on its behalf.

READ: Is the PA really suffering from a financial crisis?