Friday 26 / April / 2024
Washington: The US administration unveiled the economic part of its Middle East initiative, which includes the allocation of $50 billion to fund investments in the Palestinian territories. The White House said in a statement on its website that the initiative entitled "Peace to Prosperity" has the ability to fundamentally transform the West Bank and Gaza and to open a new chapter in Palestinian history—one defined, not by adversity and loss, but by freedom and dignity. The plan will include investments of US $50 billion over 10 years. It also includes investments from the private sector in entrepreneurship, microenterprises, tourism, agriculture, housing, manufacturing and natural resources. The White House said the plan was "the biggest ambitious international effort for the Palestinian people so far." It added that investments in the first phase are aimed at removing obstacles to growth and the work of basic projects that create momentum and jobs and increase total domestic output. The plan will be presented by the US administration at a conference to be hosted by Bahrain from June 25-26.
