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🇮🇱 Israel /Economy & Trade

Hamas may receive up to $400 million in debt relief under BoP plan - report

From Jerusalem Post · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • A report claims Hamas could receive up to $400 million in debt relief under the Gaza Board of Peace (BoP) plan, citing vague wording in Article 5 of the agreement.
  • The BoP confirmed the language but stated funds would not cover corruption or terrorist activities, only payments to public employees and suppliers owed money.
  • BoP Director-General Nikolay Mladenov disputed the report, asserting that no such proposal has been discussed and Hamas will have no access to funds.

A report by KAN News suggests that Hamas might be eligible for up to $400 million in debt relief through the Gaza Board of Peace (BoP) plan. The report centers on Article 5 of the agreement, which KAN describes as containing ambiguous language stating that funds will be transferred to "suppliers and contract holders" without explicitly excluding entities linked to Hamas.

such a proposal has not been discussed, negotiated, considered, and will not be on the agenda in the future.

— Nikolay MladenovDirector-General of the Board of Peace disputing a report about potential debt relief for Hamas.

The BoP has acknowledged the wording but maintains that the funds are intended strictly for public employees who have not received payments or for suppliers and contractors who provided services to the population and are still owed money. The organization insists that the funds "will not cover corruption, financial mismanagement, or anything related to the organization's terrorist record."

Hamas will have no role in the Gaza administration and will have no access to funds.

— Nikolay MladenovDirector-General of the Board of Peace clarifying the organization's stance on Hamas involvement.

However, BoP Director-General Nikolay Mladenov has strongly refuted the KAN report. Mladenov stated unequivocally on X/Twitter that "such a proposal has not been discussed, negotiated, considered, and will not be on the agenda in the future." He emphasized that Hamas "will have no role in the Gaza administration and will have no access to funds."

The Peace Council’s funds are not channeled through Hamas. Every contract is vetted and approved, every work is verified before payment, and all accounts are open to full scrutiny by the donor governments.

— Nikolay MladenovDirector-General of the Board of Peace detailing the financial oversight measures in place.

Mladenov further clarified that the Peace Council's funds are not channeled through Hamas. He assured that "every contract is vetted and approved, every work is verified before payment, and all accounts are open to full scrutiny by the donor governments." He added that the International Stabilization Force is designed to support disarmament and establish a civilian government devoid of Hamas's involvement, a position he stated has remained consistent.

The International Stabilization Force is designed to support disarmament and the establishment of a civilian government in which Hamas has no part, This has been our position from the beginning and has not changed.

— Nikolay MladenovDirector-General of the Board of Peace explaining the role of the stabilization force and the exclusion of Hamas.
DistantNews Editorial

Originally published by Jerusalem Post. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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