White House unveils over $50 bn Palestinian economic proposal

White House unveils over $50 bn Palestinian economic proposal
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The White House has announced the economic portion ofPresident Donald Trump's administration's Middle East peace plan, aiming atover $50 billion investment for the Palestinian people over 10 years.

The White House said in a statement on Saturday that theeconomic proposal, called "Peace to Prosperity", has the potential toachieve multiple results, including facilitating more than $50 billion ofinvestment over 10 years, doubling Palestinian GDP, and creating over onemillion jobs, among others, reports Xinhua news agency.

The plan also aims to provide better education, essentialinfrastructure, and improved governance for the Palestinian people.

The release of the plan came days before the opening of aUS-sponsored economic workshop to be held in Manama, Bahrain from June 25 to26, which is expected to focus on the "economic vision" for thePalestinians but not "political issues".

Palestinian President Mahmoud Abbas on Saturday reiteratedhis staunch rejection of the economic peace plan that the US has proposed,saying the economic situation should not be discussed before the political one.

US Middle East Envoy Jason Greenblatt reportedly said lastweek that the political portion of the peace plan could be delayed until November.

Abbas announced last week that Palestine would notparticipate in the Manama economic workshop.

The Palestinian Authority severed its political ties withthe US after Trump declared Jerusalem the capital of Israel in December 2017and moved his country's embassy to the city in May last year.