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Photo: Nick Brundle Photography/Getty Images

The White House published today the economic part of the Trump administration's Israeli-Palestinian peace plan.

Why it matters: The economic part of the peace plan was drafted over the last two years and was published three days before the Bahrain conference, which will discuss ways to boost the Palestinian economy. White House officials told me they wanted participants to come to the conference after they read the economic plan and are able to comment on it.

Details:

  • An investment of $50 billion over 10 years in the West Bank and Gaza, Jordan, Egypt and Lebanon. Half of the money will be invested in the West Bank and Gaza — and the rest in Jordan, Egypt and Lebanon.
  • More than 100 infrastructure, industry, health and education projects in the West Bank and Gaza. For example, around a billion dollars will be invested in tourism projects.
  • $5 billion will be invested in a passage that will connect the West Bank and Gaza through Israeli territory and will include a highway and a possible railway.

The big picture: White House officials say the goal of the plan is to create a million jobs in the West Bank and Gaza and to double the Palestinian GDP over 10 years.

  • The plan aims at lowering Palestinian unemployment from 30% today to single digits, and cutting poverty by half within a decade, the White House officials added.
  • Some of the funding for the plan will come from U.S. taxpayers, but most will come from the Gulf States, Western countries and the private sector, per the officials.

The bottom line: The White House officials stressed that the economic plan is only the beginning and the political part of the plan will be released in the future.

  • "The economic plan will not work without resolving the political issues," the White House officials said.

Go deeper

Ina Fried, author of Login
1 hour ago - Technology

Microsoft to buy Activision Blizzard

Photo: Jakub Porzycki/NurPhoto via Getty Images

Microsoft announced Tuesday it plans to acquire video game giant Activision Blizzard for $68.7 billion in cash.

Why it matters: The move comes as Activision Blizzard has faced a wave of accusations of workplace harassment.

2 hours ago - World

Blinken to visit Ukraine as Russia invasion threat looms

Blinken (R) with President Zelensky. Photo: Efrem Lukatsky/Pool via Getty

Secretary of State Antony Tony Blinken will travel to Ukraine on Tuesday as the country faces an ongoing threat of Russian invasion.

Driving the news: Blinken will meet with Ukrainian President Volodymyr Zelensky and Foreign Minister Dmytro Kuleba, as well as officials at the U.S. embassy in Kyiv to discuss contingency planning. He'll then travel to Berlin to meet German Foreign Minister Annalena Baerbock and attend a meeting of the "Transatlantic Quad" — France, Germany, the U.K. and U.S.

Updated 2 hours ago - World

At least 3 dead after Tonga volcano eruption and tsunami

A satellite image of the explosive eruption of the Hunga Tonga-Hunga Ha'apai volcano on Saturday. Photo: UNICEF/NOAA

At least three people are confirmed to have died in Tonga following the undersea volcanic eruption that sent tsunami waves toward the island nation and across the Pacific over the weekend, officials said Tuesday.

The big picture: Officials reported major damage along the western coast of the main island of Tongatapu, where the capital, Nuku'alofa, was covered in ash and dust, including on the runway of the airport. Officials in Tonga confirmed three deaths in the country's first official statement since the crisis began.