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International News

Jun 23, 2019
8:53AM

US unveils 50 Billion Dollar Economic Plan for Palestine

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United States today unveiled a 50 billion dollar global investment plan for the Palestinians under the Middle East peace plan.

The scheme, which calls for a mix of public and private financing and intends to create at least a million new jobs for Palestinians, was posted to the White House website ahead of a two-day conference in Bahrain.

The "Peace to Prosperity" workshop on Tuesday and Wednesday is being held amid heavy scepticism about its viability and outright opposition to it from the Palestinians.

The plan calls for projects 27.5 billion dollars in the West Bank and Gaza, and 9.1 billion dollars for Palestinians in Egypt, 7.4 billion dollar Palestinians in Jordan and 6.3 billion dollars for Palestinians in  Lebanon.

The projects envisioned are in the health care, education, power, water, high-tech, tourism and agriculture sectors.

The Manama conference is taking place despite opposition from the Palestinians. Palestinian Authority President Mahmoud Abbas today rejected the economic plan and the US peace effort, which is led by US President Donald Trump's senior adviser Jared Kushner.

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