With a third of the money directly slated for war-torn Gaza, Clinton said there would be tight restrictions to keep the money out of "the wrong hands," referring to those of the militant group Hamas, which controls Gaza. Some $400 million will go to the Palestinian Authority for "reform and development" in the West Bank and $200 million will go to help the Palestinian authority pay wages.
"We're going to listen, we're going to consult, we're going to offer our best efforts," Clinton said today. "We're going to try to work with the Israelis and Palestinians to move toward an agreement that would give Israel the security that it deserves to have and we'll provide the opportunity for helping move toward a viable state."
ABC News' Jake Tapper, Kate Barrett, Kirit Radia and Cait Taylor contributed to this story.