Egypt's President Abdel-Fattah El-Sisi announced on Tuesday the allocation of $500 million as part of an Egyptian initiative for the reconstruction of the Gaza Strip, the presidency said in a statement.

Israeli airstrikes on the Gaza Strip have killed more than 200 Palestinians, including many children and women in the last eight days. The airstrikes destroyed tens of buildings, leaving hundreds of Palestinians homeless.

As per the presidential directives issued during the trilateral summit with France and Jordan in Paris, specialised Egyptian companies will be involved in the reconstruction process.

The Egyptian initiative will include training young Palestinian cadres in developmental programmes in order to become acquainted with the latest developments in management, leadership, and technology.

The training programmes will be provided by the country's National Training Academy (NTA) in partnership with major international institutions, the NTA said in a statement on Tuesday.

The NTA said five full grants will be allocated for Palestinians in the Executive Presidential Leadership Program.

It also will offer an online training program for 200 Palestinian trainees on leadership and management, the statement added.

Founded in 2017 as per a presidential decree, the academy's Board of Trustees is chaired by President El-Sisi.

The board involves 11 members, including Prime Minister Mostafa Madbouly, Planning and Economic Development Minister Hala El-Said, and Director of the General Intelligence Service Abbas Kamel.

Egyptian authorities on Sunday opened the Rafah border crossing with the Gaza Strip and received a number of injured Palestinians due to the recent Israeli aggression.

On Monday, Health Minister Hala Zayed announced dispatching 65 tons of medicines and medical supplies worth EGP 14 million to aid Gaza.

Egypt also allocated 11 hospitals nationwide to receive injured Palestinians from Gaza.