Palestinian economic plan of $4bn: Kerry

2013-05-26 21:59


Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Al Shunah - US Secretary of State John Kerry said on Sunday an economic plan to revive the ailing Palestinian economy is expected to produce around $4bn in investment.

"We are looking to mobilise about $4bn of investment" in tourism construction, Kerry told the closing session of the World Economic Forum, held in the Jordanian town of Al Shunah on the shores of the Dead Sea.

Kerry said business experts had been working to make the project "real, tangible and shovel-ready".

He added the preliminary results of their analysis were "stunning" and showed the plan would "dramatically" bring life to the economy.

"These experts believe we will increase the Palestinian GDP by as much as 50% over three years.

"The most optimistic estimates foresee enough new jobs to cut unemployment by two-thirds to eight percent down from 21% and to increase the median wage by 40%," said the top US diplomat.

Kerry has entrusted Quartet Middle East peace envoy Tony Blair with the task of drawing up an economic plan to attract tourism and private sector investment into the West Bank and breathe fresh hope into the area.

Blair has already been working with Coca-Cola chief executive Muhtar Kent on ways of attracting investment into the depressed West Bank.

Blair "is shaping what I believe could be a ground-breaking plan... that will transform the fortunes of a future Palestinian state," said Kerry.

"It is a plan for the Palestinian economy that is bigger, bolder and more ambitious than anything proposed since Oslo," he added in reference to the 1993 peace accords.

Read more on:    john kerry  |  tony blair  |  palestine  |  middle east peace

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Millions of plastic particles in our food!

Scientists and researchers believe that almost five million tons of plastic is dumped in the oceans every year and it’s affecting our food.



Plastic on your plate
Prince George the green prince?
Lean, green, drifiting machine
One man's $1 million vision for an eco Africa

Book flights

Compare, Book, Fly

Traffic Alerts

The Leo moon adds an element of drama and entertainment. A significant person that you may consult or confide in may play more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.