Here's Trump's $50B economic plan for peace in the Middle East

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The White House on Saturday outlined a $50 billion Middle East economic plan that would create a global investment fund to lift the Palestinian and neighboring Arab state economies, and fund a $5 billion transportation corridor to connect the West Bank and Gaza.

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The “peace to prosperity” plan, set to be presented by White House senior adviser Jared Kushner at an international conference in Bahrain next week, includes 179 infrastructure and business projects, according to details of the plan and interviews with U.S. officials. The approach toward reviving the moribund Israeli-Palestinian peace process was criticized by the Palestinians on Saturday.

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More than half of the $50 billion 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.

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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 forces and militants from Hamas-ruled Gaza, and the tenuous security in the occupied West Bank.

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Kushner said some Palestinian business executives have confirmed their participation in the conference, but he declined to identify them. The overwhelming majority of the Palestinian business community will not attend, businessmen in the West Bank city of Ramallah told Reuters. Several Gulf Arab states, including Saudi Arabia, will also participate in the June 25-26 U.S.-led gathering in Bahrain’s capital, Manama, for Kushner’s rollout of the first phase of the Trump peace plan. Their presence, some U.S. officials say privately, appears intended in part to curry favor with Trump as he takes a hard line against Iran, those countries’ regional arch-foe. The White House said it decided against inviting the Israeli government because the Palestinian Authority would not be there, making do instead with a small Israeli business delegation.

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