CAIRO, July 4 (Xinhua) -- The Cairo-based Arab League and Saudi Arabia have respectively transferred 50 million U.S. dollars directly to Palestinian President Mahmoud Abbas to help the Palestinian National Authority (PNA) overcome financial crisis, AL chief and Abbas' envoy said here Tuesday.

    AL Secretary-General Amr Moussa said in a joint press conference with Nabil Shaath, special envoy for Abbas, that his league transferred 50 million dollars directly to Abbas on Monday with full coordination from the Hamas-led Palestinian government. Saudi Arabia has also transferred 50 million dollars to Abbas, said Shaath.

    But neither Moussa nor Shaath disclosed details on how the aid funds were transferred.

    Shaath said that the funds were the first two transferred to the PNA since Hamas, or the Islamic Resistance Movement, took power in late March.

    The Palestinians were facing a severe financial crisis after key Western donors, including the United States and the European Union, cut off direct aid to the Palestinians since Hamas refuses to renounce violence, recognize Israel's right to exist and honor previous Palestinian-Israeli agreements.

    Israel also halted the monthly transfer of about 55 million dollars of tax revenues it collects on behalf of the Palestinians since Hamas' sweeping victory in the January Palestinian legislative elections.

    Hamas has said that it has gathered enough aid from Arab and Islamic countries, but the transfer of the money was blocked due to reluctance of banks to deal with the Hamas government out of fear for possible U.S. sanctions and lawsuits. Enditem