The American Wall Street Journal reported, on Tuesday, that the Kingdom of Saudi Arabia presented a proposal to renew its financial support to the Palestinian Authority.

The newspaper quoted officials in the Kingdom of Saudi Arabia as saying that this step aims to mobilize the support of the President of the Palestinian Authority, Mahmoud Abbas, for expected relations between the Kingdom and Israel.

According to the newspaper, Saudi Crown Prince Mohammed bin Salman put forward the idea of renewing financial support with President Abbas in a meeting they held in Saudi Arabia last April, then bin Salman linked the renewal of support to the authority to working to tighten its grip on the West Bank.

The newspaper quoted official Palestinian and Saudi sources as saying that bin Salman provided guarantees that if Abu Mazen succeeds in controlling security in the West Bank, Saudi Arabia will renew its financial support and will not accept any deal with Israel that undermines efforts to establish a Palestinian state.

The newspaper reported, quoting the same sources, that next week the Palestinian Authority will send a high-ranking delegation to Saudi Arabia to discuss what Riyadh can offer as part of the talks with Israel to boost hopes for the establishment of a Palestinian state.

According to the newspaper, Saudi Arabia has been one of the main financiers of the authority over many years, and has pumped more than $5 billion for purposes related to the Palestinians, including direct financial support for the authority, but in 2016 it cut off its support due to allegations of corruption in the Palestinian Authority.