‘Deal of the Century’ to Grant $9 Billion to Egypt

US President Donald Trump (L) meets Egyptian President Abdel Fattah el-Sisi. (Photo: File)

According to documents released by the White House, the economic aspect of Donald Trump’s ‘peace plan’ between Palestine and Israel includes granting $9 billion to Egypt, half of which is in the form of soft loans.

The documents revealed that $50 billion will be dedicated to the economic part of the deal of the century, which will be invested in the revival of the Palestinian territories, as well as Lebanon, Jordan, and Egypt.

The US President’s advisor and son-in-law Jared Kushner will announce the details of the first phase of the peace plan during the workshop on “Peace for Prosperity” in Manama, Bahrain, on June 25-26.

According to the documents, the funds received by Egypt will be invested during three stages over 10 years, as follows:

  • $5 billion to be invested in modernizing transport infrastructure and logistics in Egypt.
  • $1.5 billion to be invested in supporting Egypt’s efforts to become a regional natural gas hub.
  • $2 billion to be dedicated to the Sinai Development Project ($500 million for power generation projects, water infrastructure, transport infrastructure and tourism projects).
  • An additional $125 million to be directed to the Overseas Private Investment Corporation (OPIC), which will direct this fund to small and medium-sized enterprises in Egypt.
  • $42 million to repair and modernize electricity transmission lines from Egypt to the Gaza Strip.
  • The commitment to discuss ways to enhance trade deals between Egypt, Israel, the Gaza Strip and the West Bank through Qualifying Industrial Zones in Egypt within the QIZ Agreement.

According to the documents, the West Bank and Gaza Strip will receive about $28 billion, which will be invested in improving transport infrastructure, electricity networks, water supply infrastructure, education, housing, and agriculture.

$5 billion will be spent on transport infrastructure linking the Gaza Strip and the West Bank and another $1 billion on the development of the Palestinian tourism sector.

The remaining part of the $50 billion will be divided between Jordan, which will receive $7.4 billion, and Lebanon, which will be granted $6.3 billion. The totality of funds will be raised through an investment fund managed by a Multilateral Development Bank.

(Middle East Monitor, PC, Social Media)

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