Palestinian President Mahmoud Abbas expressed appreciation for an initiative by Egypt to provide $500 million for Gaza strip reconstruction efforts after Israeli air strikes.

According to the state-run Palestinian news agency Wafa, Abbas said that Egypt’s national and historic position “reflects its role in the Arab world in supporting the Palestinian people and defending their rights until the establishment of its independent state with East Jerusalem as the capital”.

He added that Egypt remains a strong supporter and defender of Palestine’s immutable and historic rights, including the Islamic and Christian holy sites.

Earlier on Tuesday, Egyptian President Abdel-Fattah El-Sisi announced the allocation of $500 million as part of an Egyptian initiative for the reconstruction of the Gaza Strip.

Israeli airstrikes on the Gaza Strip have killed more than 200 Palestinians in the last eight days, including many women and children. The airstrikes also 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 development programmes that will acquaint them with the latest developments in management, leadership, and technology.