RIYADH — Saudi Arabia and the United Arab Emirates will participate in a conference next month in Bahrain aimed at encouraging investment in the West Bank and Gaza Strip, part of US President Donald Trump's long-awaited Israel-Palestinian peace plan.

The "Peace to Prosperity" economic workshop will be hosted on June 25-26 in cooperation with the United States.

The Saudi minister of economy and planning will attend, SPA reported on Wednesday.

The UAE Ministry of Foreign Affairs and International Cooperation said Abu Dhabi would also send a delegation.

The plan is likely to call for billions of dollars in financial backing for the Palestinians.

Saudi Arabia has assured Arab allies it would not endorse any US plan that fails to meet key Palestinian demands which include Arab East Jerusalem as the capital of a Palestinian state, a right of return for refugees displaced by the Arab-Israeli wars, and a freeze on Israeli settlements in lands claimed by the Palestinians.

The UAE Ministry of Foreign Affairs and International Cooperation said in a statement that the workshop “aims to lift the Palestinian people out of misery and to enable them for a stable and prosperous future”, WAM said.

“The UAE reiterates its support for the establishment of a Palestinian state with East Jerusalem as its capital,” the statement added. — Reuters