Palestinian President Mahmoud Abbas and Israel's Ambassador to the UN Danny Danon will attend the meeting, Xinhua news agency quoted the sources as saying on Sunday, adding that the Palestinian delegation was preparing a resolution that would condemn the controversial plan, though it was likely be vetoed by the US.
Danon is currently meeting his counterparts on the Security Council to enlist their support for the joint US-Israeli action and "to prevent support for any Palestinian declarations of protest", according to a statement issued on Saturday by the Israeli UN mission.
On January 28, Trump revealed his controversial plan, also known as the "Deal of the Century", calling for a two-state solution while recognizing Jerusalem as Israel's "undivided capital".
The US President outlined the 80-page plan at the White House along with Israeli Prime Minister Benjamin Netanyahu, saying it proposed a "realistic" two-state solution.
After the unveiling of the plan, a UN spokesman said that the position of the world body on the two-state solution of Israel and Palestine has been defined, throughout the years, by relevant Security Council and General Assembly resolutions.
He added the UN remains committed to supporting Palestin and Israelis to resolve their conflict on the basis of its resolutions, international law and bilateral agreements, to realize the vision of two states living side by side in peace and security within recognized borders on the basis of the pre-1967 lines.
Permanent Observer of Palestine to the UN Riyad Mansour said that Trump's plan "will fail".
In an emergency meeting at the Arab League headquarters in Cairo on Saturday, Arab Foreign Ministers unanimously agreed to boycott the US plan and not to cooperate "in any way" with Washington in its implementation.
( With inputs from IANS )