Palestinian President Mahmoud Abbas (Photo: Reuters)

(VOVworld) Rival Palestinian factions have agreed to accept President Mahmoud Abbas as head of an interim government that will oversee preparations for presidential and legislative elections. Hamas and Abbas's secular Fatah movement agreed that the national consensus government will be made up of independents and technocrats who will be responsible for overseeing the elections. The interim government will be officially announced at a meeting of all Palestinian factions in Cairo next Saturday, when a date will be set for the elections.

In response, Israeli Prime Minister Benjamin Netanyahu says Mahmoud Abbas has chosen to "abandon the way of peace" by reaching a power-sharing deal with the Hamas militant group. Netanyahu reiterated Israel’s position that the Palestinian government led by Abbas must choose unity with Hamas or peace with Israel because Hamas and peace do not go hand in hand. Meanwhile, the US says it will not interfere in the agreement between Palestinian factions, calling it the Palestine’s internal affairs.