Kerry unveils US$4 billion Palestinian investment plan
JORDAN: US Secretary of State John Kerry unveiled Sunday a
plan to boost the Palestinian economy by attracting $4 billion in
private investment, saying it could transform the lives of the people.
As he seeks to bring Israel and the Palestinians back to the table to
negotiate a peace deal, Kerry said it was also imperative to create jobs
and meet the hopes of young people for a better economic future.
He has tasked Tony Blair, the Quartet's special envoy to the Middle
East, with drawing up a plan to revitalise the West Bank through
boosting industries such as tourism, construction, information
technology and agriculture. The group was putting together
recommendations for the Palestinian leadership to decide on, aiming to
“mobilise some $4 billion of investment”.
“These experts believe we will increase the Palestinian GDP by as
much as 50 percent over three years,” Kerry told the closing session of
the World Economic Forum meeting on the shores of the Dead Sea in
Jordan.
“The most optimistic estimates foresee enough new jobs to cut
unemployment by two-thirds to eight percent down from 21 percent and to
increase the median wage by 40 percent,” said the top US diplomat. Some
100,000 jobs in home construction alone could be created in the next
three years, while tourism could triple.
While details of the plan remained sketchy, Blair's office said in
statement they were “analyzing the potential of various sectors of the
Palestinian economy and identifying measures that could be taken to spur
transformative growth.” They were “consulting with a number of key
international and local experts and stakeholders from the different
economic sectors” and would provide details “in due course,” it added.
Kerry warned the forum however it stood before a historic moment,
amid the yearnings for greater economic and social freedoms unleashed by
the Arab Spring.
“We ignore the lessons of the Arab awakening at our own peril... it
is imperative that all of us channel our creativity and energy into
making sure that people do actually have better choices,” he said. He
urged public and private sectors to work together saying they each “have
a responsibility to meet the demands of this moment and one can't do it
without the other. We need you at the table”.
“If we don't eagerly grab this moment we will condemn ourselves to a
future conflict. We are staring down a dangerous path filled with
potential violence, with the capacity to harden divisions, increase
instability.
“And this will be a path filled by violent extremists who rush to
fill the vacuum.” In a separate initiative unveiled at the forum in the
Jordanian town of Al Shunah, some 300 Israeli and Palestinian business
executives also urged their governments to move towards a two-state
solution.
AFP |