International donors have pledged some 4.5 billion dollars in aid to help the Palestinian economy and rebuild Gaza.

Egyptian Foreign Minister Ahmed Abul Gheit spoke to reporters after an international donors' conference in Sharm el-Sheik on Monday.

Photo taken on March 2, 2009 shows the general view of an international donors' conference to plan the reconstruction of the Palestinian Gaza Strip in Sharm El-Sheikh, Egypt, on March 2, 2009. [Zhang Ning/Xinhua]

The conference gathered the presidents of Egypt and France, the United Nations chief and top diplomats from 45 nations.

The international donors' meeting aimed to raise billions of dollars for the reconstruction of the Gaza Strip which was ravaged by Israel's 3-week offensive.

US Secretary of State Hillary Clinton was among participants at the meeting. She said it was time for Palestinians "to break the cycle of rejection and resistance".

Hillary Rodham Clinton, US Secretary of State, said, "Time is of the essence. We cannot afford more setbacks and delays or regrets about what might have been had different decisions been made and now is not the time for recriminations. It is time to look ahead."

Donor nations hope that a show of cash will boost chances of resuming the peace process between Israel and the Palestinians.

But control of the funds, ensuring they go where they are needed, is key.