CAIRO- Egypt will allocate $500 million in funds for rebuilding efforts in the Gaza strip following Israeli air strikes, the Egyptian presidency said on Tuesday.

Egyptian companies will also participate in rebuilding operations, the statement added in an announcement that came following a meeting between President Abdel Fattah al-Sisi, French President Emmanuel Macron and Jordan's King Abdullah in Paris.

(Reporting by Mohamed Waly; Writing by Nadine Awadalla; Editing by Alison Williams) ((Nadine.Awadalla@thomsonreuters.com;))