President Donald Trump’s long-awaited Middle East peace plan calls for a state of Palestine with a capital in East Jerusalem, according to multiple reports. 

The plan was scheduled to be released during an event on Tuesday with the Israeli Prime Minister Benjamin Netanyahu, a close ally of the president. 

The Associated Press and Reuters reported that the plan called for the recognition of Israeli settlements in the West Bank in exchange for a four-year freeze on new settlement activity. 

The high-profile meeting between Trump and Netanyahu was seen as an effort to shore up Netanyahu’s electoral prospects as he competes against rival Benny Gantz for re-election in a contest scheduled for early March. Gantz also met with Trump at the White House this week. 

“This is an unprecedented and highly significant development,” Trump said on Tuesday during the press conference with Netanyahu. “Mr. Prime Minister, thank you for having the courage to take this big step forward.”

Netanyahu was formally indicted earlier Tuesday on bribery and corruption charges brought by Israel’s attorney general, Avichai Mandelblit. Netanyahu has denied wrongdoing. 

Trump has promised to broker a peace deal in the Middle East since the first days of his administration. An economic portion of the plan was released in June.