WASHINGTON, June 22 (Xinhua) -- The White House on Saturday announced the economic portion of the Trump administration's Middle East peace plan, aiming at over 50 billion U.S. dollars' investment for the Palestinian people over ten years.

The White House said in a statement that the economic proposal, called "Peace to Prosperity," has the potential to achieve multiple results, including facilitating more than 50 billion dollars of investment over ten years, doubling Palestinian GDP, and creating over one million Palestinian jobs, among others.

The plan also aims to provide better education, essential infrastructure, and improved governance for the Palestinian people.

The release of the plan came days before the opening of the U.S.-sponsored economic workshop to be held in Manama, Bahrain from June 25 to 26, which is expected to focus on the "economic vision" for the Palestinians but not "political issues."

Palestinian President Mahmoud Abbas on Saturday reiterated his staunch rejection of the economic peace plan that the United States proposed, saying the economic situation should not be discussed before the political one.

U.S. Middle East Envoy Jason Greenblatt reportedly said last week that the political portion of the peace plan could be delayed until November.

Abbas announced last Saturday that Palestine would not participate in the Manama economic workshop.

"Jerusalem and Palestine are not for sale," Abbas said in a meeting with the leaders of the Fatah Youth Movement in Ramallah.

The Palestinian Authority severed its political ties with the United States after President Donald Trump declared Jerusalem the capital of Israel in December 2017 and moved his country's embassy to the city in May last year.