Israel allocates $434 million for 34 new West Bank settlements

Israel's security cabinet approved a budget of 1.3 billion shekels ($434 million) for establishing 34 new settlements in the occupied West Bank, right-wing Finance Minister Bezalel Smotrich said on Tuesday, adding to ‌tensions over territory widely viewed as central to a potential Palestinian state.

U.N. bodies, Palestinians and most countries view the settlements as illegal under international conventions - a stance disputed by Israel - and a primary obstacle to peace.

Smotrich, who has long opposed Palestinian statehood, is head of the Religious Zionism party that draws much of its support from settlements and is running in the upcoming legislative election on October 27.

The planned settlements would bring the total established under his four-year tenure to 103. Smotrich said another 1.075 billion shekels would be approved to pave roads to the new settlements. Last month, government ministers referred the settlement funding plan to the security cabinet.

Smotrich called the cabinet's decision historic and a "day of celebration for Israel and settlements", thanking Prime ‌Minister Benjamin Netanyahu for his support. Opinion polls point to Netanyahu losing in the October election.

Reuters