Israel's cabinet is poised to endorse a funding initiative for the effective creation of 61 new settlements across the West Bank on Thursday, Axios journalist Barak Ravid reported.

The initiative calls for distributing more than 350 million dollars across multiple years, according to Ravid's post on X that referenced a source close to the details, and it is being advanced by far-right Finance Minister Bezalel Smotrich.

"Many of the settlements included in the proposal are located in strategically sensitive areas," Ravid noted, "including along Highway 90 in the Jordan Valley, in the South Hebron Hills, and in locations designed to create territorial continuity between existing settlements."

The funds would support temporary mobile homes, public facilities, community infrastructure and support services, which Ravid described as "one of the most significant settlement expansion moves in decades," with financing for these elements starting even prior to full completion of planning steps.

In subsequent phases of the plan, the government would also provide resources for more lasting development, such as road construction and utility installations.

Ravid pointed out that the proposal's distinctive approach of permitting a temporary site before planning procedures finish would establish an important precedent, enabling the government to create "facts on the ground" that could later become permanent settlements.

Right-wing pushing for Israeli sovereignty over West Bank

Right-wing ministers and lawmakers have persistently advocated for Israeli sovereignty across the entire West Bank, prompting sharp criticism from international leaders.

In a separate move, the Higher Planning Council under the Defense Ministry approved 2,162 new housing units in West Bank settlements earlier this month, as announced by Smotrich.

Smotrich praised the approval, stating that "we are continuing to build the Land of Israel in practice."

He noted that creating these housing units goes beyond mere planning steps.

"They are national initiatives that strengthen our hold on the land, reinforce Israel's security, and establish clear facts on the ground that prevent the creation of an Arab terrorist state in the heart of the country."

Keshet Neev contributed to this report.