Palestinian Authority President Mahmoud Abbas said Monday he was satisfied with the achievements of an international conference that raised billions of dollars to rehabilitate the Gaza Strip, and also stipulated that demilitarization of the coastal enclave is dependent on internal Palestinian elections.

Speaking after the Sunday conference that secured some $5.4 billion in foreign aid for the Palestinians, Abbas described the event as a “great success,” Israel Radio reported on Monday.

The Palestinian leader made it clear that the funds, of which $2.7 billion are intended to rebuild war-torn Gaza, will go straight to the PA and not to any other Palestinian groups.

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Abbas told Egyptian reporters that he does not expect Hamas to launch another conflict with Israel because the organization doesn’t have the ability to do so. He also suggested that the demilitarization of Gaza, which has been a key demand of Israel, will only happen after the planned general elections for a new Palestinian government, although a date for the vote has not yet been set.

Abbas added that only elections can unite Palestinian military power under one authority and resolve the issue of multiple militias.

Israel Radio reported that a senior member of the Palestinian terror group Islamic Jihad, Khaled al-Batsh, said on Sunday that the rehabilitation and opening of the border crossings are a condition for continuing the ceasefire with Israel.

At the conference, Qatar pledged $1 billion toward the reconstruction of the Gaza Strip, once again using its vast oil wealth to reinforce its role as a regional player. Gulf Arab rival the United Arab Emirates promised $200 million.

The pledges followed US Secretary of State John Kerry earlier announcing immediate American assistance of $212 million. The European Union pledged €450 million ($568 million), while Turkey, which has been playing a growing role in the region in recent years, said it would donate $200 million.

The latest conflict in Gaza killed more than 2,000 Palestinians — mostly civilians, according to Gaza-based UN sources. Another 11,000 were wounded, and some 100,000 people reportedly remain homeless. Israel says some 1,000 of the fatalities were Hamas and other gunmen, and blames Hamas for the civilian casualties, arguing that it launched rockets at Israeli towns from within residential areas.

Hamas and other terror groups fired over 4,500 rockets and other projectiles at Israel, and staged several attacks through cross-border tunnels, prompting Israel to launch Operation Protective Edge that continued for 50 days during July and August. Seventy-two Israelis were killed in the fighting. Israel and Hamas eventually agreed to an extended ceasefire conditioned on further negotiations for a more permanent arrangement in which the Palestinians want an easing of Israel’s blockade of Gaza, and Israel wants Hamas to give up its arms.

Times of Israel staff and AP contributed to this report.