Egypt has rejected any responsibility for governing the Gaza Strip after the Israel-Hamas war, reiterating its opposition to a proposal by Israeli opposition leader Yair Lapid, who suggested Cairo take over reconstruction efforts.

“Cairo rejects any proposal to manage the Gaza Strip,” the Saudi television channel Al-Hadath quoted sources as saying. “Gaza will be managed by the Palestinians and in coordination with them. Cairo is committed to rebuilding Gaza without displacement.”

At an event hosted by the Washington, DC-based Foundation for Defense of Democracies (FDD) think tank on Tuesday, former Israeli Prime Minister Lapid, who currently serves as the leader of the opposition in Israel’s parliament, presented “The Egyptian Solution” as his alternative plan for reconstruction efforts in Gaza after the war, proposing that Egypt take over administration of the enclave for 8-15 years in exchange for the cancellation of its $155 billion external debt.