Aiming to bolster its influence over occupied East Jerusalem, the Israeli government has unveiled a budgetary plan that will "change the face of Jerusalem" over the next five years.

According to a statement released Sunday by the government, a budget of 3.2 billion Israeli shekels ($843 million) has been earmarked for investment in occupied East Jerusalem between 2024 and 2028.

The statement said the objective of this initiative is to address social inequality and promote economic development in occupied East Jerusalem.

Regarding the plan, Israeli Prime Minister Benjamin Netanyahu said, "the decision will change the face of Jerusalem."

It will contribute to an increase in the number of those who receive a high school diploma, Netanyahu added.

The Palestinian curriculum, called tawjihi, is taught in schools in East Jerusalem, leading to a high school diploma. However, Israel wants students to be taught the Israeli curriculum.

Palestinians living in occupied East Jerusalem are struggling with Israel's attempts to change the curriculum, despite efforts to preserve it.

The Israeli announcement comes days after an Israeli settlement monitoring movement said that the Benjamin Netanyahu government is financing the annexation of lands in the West Bank by allocating an additional budget of $190 million.

The report stated that the Israeli government prepared a plan for an unprecedented investment of about 700 million shekels and possibly more (about $190 million) in the occupied West Bank settlements.

“According to the draft document we received, the scope of the plan is 671.63 million NIS (around $190m) from the 2023-2024 budget, but there are clauses that have not yet determined the allocation amounts, so the total amount is expected to increase significantly,” the NGO said.

A sum of 92 million NIS ($24 million) is marked as an undefined grant, allowing settlements to use the money for almost any purpose, the group stated.

The NGO criticised the move, saying: “Instead of investing in Israel’s future, the Israeli government is pouring money into settlements, perpetuating the occupation, and fueling the conflict and confrontation with the Palestinians.”

Estimates indicate that about 700,000 Israeli settlers are living in 164 settlements and 116 outposts in the occupied West Bank.

Under international law, all Jewish settlements in the occupied territories are considered illegal.