Washington Post:
But major elements of it, according to two people familiar with the planning, were specifically designed to make real the president’s vision of a “Riviera of the Middle East.”
Perhaps most appealing, it purports to require no U.S. government funding and offer significant profit to investors. Unlike the controversial and sometimes cash-strapped GHF, which uses armed private U.S. security contractors to distribute food in four southern Gaza locations, the trust plan “does not rely on donations,” the prospectus says. Instead, it would be financed by public and private-sector investment in what it calls “mega-projects,” from electric vehicle plants and data centers to beach resorts and high-rise apartments.
Calculations included in the plan envision a nearly fourfold return on a $100 billion investment after 10 years, with ongoing “self-generating” revenue streams. Some elements of the proposal were first reported by the Financial Times.
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As outlined in the trust document, Israel would transfer “Administrative Authorities and Responsibilities in Gaza to the GREAT Trust under a U.S.-Israel bilateral agreement” that would “evolve” into a formal trusteeship. The outline foresees eventual investments by “Arab and other countries” that would turn the arrangement into a “multi-lateral institution.”
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The document makes no reference to eventual Palestinian statehood. The undefined Palestinian governing entity, it says, “will join the Abraham Accords,” Trump’s first-term negotiation that led to the establishment of diplomatic relations between Israel and four Arab states. Trump has said he expects to expand that achievement before leaving office.
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Investor-financed “mega-projects” include paving a ring road and tram line around Gaza’s perimeter, which the planners flatteringly label the “MBS Highway,” after Saudi Crown Prince Mohammed bin Salman, whose approval of such an initiative would go a long way toward regional acceptance. A modern north-south highway through Gaza’s center is named after United Arab Emirates President Mohammed bin Zayed al-Nahyan. A new port and airport would be built in the far south, with direct land connections to Egypt, Saudi Arabia and Israel.