Deputy Prime Minister Shimon Peres has succeeded in convincing the government to allocate funds to his initiative, the "Valley of Peace" project between Israel and Jordan. The government approved the plan Sunday and designated it a "national project."
Prime Minister Ehud Olmert said Peres would lead the Israeli-Jordanian-Palestinian project, "with the purpose of increasing regional stability through economic development."
The "Valley of Peace" is to stretch over the 500 km. Israeli-Jordanian border, from the Red Sea to the Yarmuk river, and will include several projects, including a water conduit from the Red Sea to the Dead Sea for preventing the latter from drying up, an Israeli-Jordanian airport near Eilat and Aqaba, a connection of the Jordanian and Israeli railway systems and a mutual Israeli-Palestinian Authority industrial zone in northern Samaria.