The White House has denied that the Trump administration is set to host a peace summit with Arab leaders at Camp David in September to pitch its much-awaited political solution of the Israeli-Palestinian conflict.

“No summit has currently been planned," a senior White House official told Fox News. "The Middle East team will report back to POTUS, VP, Sec State and NSA upon returning to discuss the many potential next steps to expand upon the success of the Bahrain workshop."

The Hebrew daily Yediot Ahronot, accoriding to the Jerusalem Post, inititally reported that Trump adviser and son-in-law Jared Kushner is reportedly seeking to invite the Arab leaders during his trip to the Middle East that began this week. He will visit six countries, including Israel.

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The reports noted that during the supposed summit at the Camp David, the presidential retreat in Maryland, and President Trump would have had personally presented out the peace plan between Israel and Palestinian officials.

Despite the Trump administation's efforts to come up with a peace plan, the Palestinian leadership are thought to be ready to reject the peace plan immediately, though such move may be just a gift to Israeli Prime Minister Benjamin Netanyahu and his Likud party in advance of the Sept. 17 election.

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According to the report, the Israeli cabinet approved the construction of 700 Palestinian homes in a West Bank area fully under Israel’s control. The approval appears to be part of the effort to convince Arab leaders to participate in the peace process.

The Trump administration released this summer the economic side of the Israeli-Palestinian peace solution. The proposed economic development plan aims to raise $50 billion for the Palestinian economy.

The White House likened the deal to a Marshall Plan for Palestinians and said it was an “opportunity of the century.”

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The $50 billion would be raised with $15 billion in grants, $25 billion in low-interest loans and $11 billion in private capital.

The U.S. will consider making a large investment to the funding, along with other countries, but everything is contingent on the agreement of a good governance mechanism. The hope is that the money can’t be siphoned off by corrupt politicians or be misappropriated and given to the families of terrorists – a tactic used openly by the Palestinians.