Israel plans to turn over $100 million in frozen tax funds to Palestinian President Mahmoud Abbas by Friday, an Israeli official said.

The money is part of Israel's strategy to boost the moderate Palestinian leader in his standoff with the Islamic militant group Hamas, the official said.

The money will include funds for humanitarian assistance and to beef up Abbas' Presidential Guard, which has clashed with Hamas gunmen in recent weeks. The official was not authorized to discuss the matter with the media and spoke on condition of anonymity.

Israel has frozen more than $500 million in taxes it collects on behalf of the Palestinians, seeking assurances the money doesn't reach the Hamas-led government.

Click here to go to FOXNews.com's Mideast Center.