The United States is putting together a $3 billion international aid package for the Gaza Strip after Israeli withdrawal, according to a Friday’ New York Times report.

The U.S. hopes to raise the money, which will be invested to improve quality of life and bring economic recovery to the Gaza Strip, from the G-8 countries.

The Quartet’s special envoy for disengagement, James Wolfensohn, is reportedly developing projects, including the upgrading of the border facilities with Israel, the establishment of a new port in the Gaza Strip, and infrastructure and housing.