US unveils 50 Billion Dollar Economic Plan for Palestine

  1. United States has unveiled a 50 billion dollar global investment plan for the Palestinians under the Middle East peace plan.
  2. The scheme calls for a mix of public and private financing and intends to create at least a million new jobs for Palestinians.
  3. The plan also outlines ambitions for free and secure movement of people and goods across borders to increase trading opportunities.
  4. But the plan makes no reference to longstanding Israeli objections to foreign investment and trade with the blockaded Gaza strip.
  5. However,the Palestinian President has rejected the economic plan and the US peace effort.He said that the economic situation should not be discussed before the political one.
  6. Recently,the US had recognised Israeli sovereignty over the Golan Heights reversing half a century of US policy.
  7. Israel seized the Golan Heights from Syria after a decisive victory in the war of 1967 and applied Israeli law to the region in 1981,an annexation that was rejected by the international community.
  8. Further,US had also moved the US embassy from Tel Aviv to Jerusalem, overturning decades of US policy that said the final status of the contested holy city was to be negotiated between Israel and the Palestinians.

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