US unveils economic portion of deal of the century

Jun 24,2019

Palestinians completely reject the deal. Lebanon said it would not accept funds at the expense of Palestinian rights.

US revealed on Saturday the economic part of the deal of the century, stating that consists of $50bn distributed among Palestinian territories, Egypt, Jordan and Lebanon.

The plan set to be presented by the White House’s Senior Adviser Jared Kushner at an international conference in Bahrain in the coming two days, includes 179 infrastructure and business projects.

The approach toward reviving the dying Israeli-Palestinian peace process was criticised by the Palestinians on Saturday.

A product of two years of work by Kushner and other aides, the plan would take place only if a political solution to the region’s long-running problems is reached.

More than half of the $50bn would be spent in the economically troubled Palestinian territories over 10 years while the rest would be split between Egypt, Lebanon and Jordan.

Some of the projects would be in Egypt’s Sinai peninsula, where investments could benefit Palestinians living in adjacent Gaza, a crowded and impoverished coastal enclave.

The plan also proposes nearly a billion dollars to build up the Palestinians’ tourism sector, a seemingly impractical notion for now given the frequent flareups between Israeli occupation and Palestinians in Gaza, and the tenuous security in the occupied West Bank.