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Egypt sees political, economic gains in Gaza reconstruction

Cairo has launched an initiative to rebuild Gaza, coinciding with cease-fire efforts, through which Egypt seeks to extend its influence over the region and achieve political and economic gains.
Palestinians wave Egyptian flags while sitting in a vehicle parked beneath a giant billboard depicting Egyptian President Abdel Fattah al-Sisi with a quote from him reading in Arabic "Egypt is extremely keen for all the rights of the Palestinian people," as they wait to receive the incoming Egyptian intelligence convoy entering the Gaza Strip on the Palestinian side of Erez border crossing with Israel near Beit Hanoun, May 31, 2021.

During a tripartite summit with the French president and the Jordanian king in Paris May 18, Egyptian President Abdel Fattah al-Sisi announced the allocation of $500 million, through specialized Egyptian companies, for the reconstruction of the Gaza Strip following an 11-day Israeli aggression.

The Egyptian initiative coincided with the success of the Egyptian efforts in brokering a cease-fire between the Palestinian factions and Israel in the Gaza Strip, which was welcomed by many world leaders. During a phone call with his Egyptian counterpart May 24, US President Joe Biden stressed the US support for the Egyptian mediation to achieve the truce and support the reconstruction of Gaza, noting his desire to continue consultations and coordination with Sisi regarding the Palestinian cause.

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