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White House proposing $50 billion package to boost Palestinian economy -- if there is peace
Washington (CNN)The White House is proposing a $50 billion package designed to boost the Palestinian economy, presenting a vision of regional prosperity that remains contingent on an Israeli-Palestinian peace agreement, administration officials said.
Senior White House adviser Jared Kushner will pitch the proposal during a two-day conference in Bahrain this week with international investors and foreign government officials, calling for a combination of grants, low-interest loans and private investments over 10 years -- more than half of which would be spent in the Palestinian territories, while the rest would flow to neighboring Egypt, Lebanon and Jordan.
"For too long the Palestinian people have been trapped in inefficient frameworks of the past," Kushner said in a statement released Saturday. He called the plan "a vision of what is possible if there is peace."
The proposal, which the White House hopes will be bankrolled primarily by wealthy Arab countries and private investors, aims to create one million new jobs in the West Bank and Gaza, double Palestinian GDP and halve the Palestinian poverty rate, two senior administration officials told CNN. Reuters first reported the details of the proposal.
Senior White House adviser Jared Kushner will pitch the proposal during a two-day conference in Bahrain this week with international investors and foreign government officials, calling for a combination of grants, low-interest loans and private investments over 10 years -- more than half of which would be spent in the Palestinian territories, while the rest would flow to neighboring Egypt, Lebanon and Jordan.
"For too long the Palestinian people have been trapped in inefficient frameworks of the past," Kushner said in a statement released Saturday. He called the plan "a vision of what is possible if there is peace."
The proposal, which the White House hopes will be bankrolled primarily by wealthy Arab countries and private investors, aims to create one million new jobs in the West Bank and Gaza, double Palestinian GDP and halve the Palestinian poverty rate, two senior administration officials told CNN. Reuters first reported the details of the proposal.
https://www.cnn.com/2019/06/22/politics/palestinian-economy-white-house-israeli-palestinian-peace-agreement/index.html
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