Israel, Jordan, and the Palestinians on Sunday agreed to proceed with a feasibility study of a $2-4 billion project to top up the Dead Sea with water from the Red Sea, officials said on Sunday.

The official said the tripartite meeting, attended by World Bank officials, agreed to tender out soon the World Bank-sponsored feasibility study of the project to reverse a 25 meter fall in the level of the Dead Sea in the past century.

Officials said Israel, Jordan and the Palestinian Authority were committed to the 180 km "Two Seas Canal" plan despite stalled peace talks between Israelis and Palestinians.

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"This project will help ease the shortage of water for all of us. A peace agreement is a piece of paper that can be cemented only though economic projects," Israeli National Infrastructure Minister Benjamin Ben Eliezer told reporters.

The Dead Sea, the lowest point on the earth's surface, has been shrinking because of increased use of water upstream from the Jordan River, the Dead Sea's main source.

France, the United States, the Netherlands and Japan have so far signaled their willingness to contribute to the cost of the two-year study.

Any link between the seas might include a hydro electric plant to capitalize on the drop of about 450 meters from the Red Sea to the Dead Sea.

The study would also examine environmental impacts. It is unclear whether the sea would be affected by Red Sea water, which is less salty.