Abdulatif al-Qanou'a, Hamas spokesman in Gaza, said in a statement that the "Great March of Return" rally will continue until it achieves its goals.
Israel's military claimed their evidence shows the 11-year-old was hit by a rock thrown by protesters.
The portion of the money involving Palestinians in the occupied West Bank and Gaza Strip was being redirected to programmes between Jewish and Arab Israelis, a U.S. embassy official said.
The youth was reported to be in moderate condition.
"He used to go every Friday to the marches like thousands of other people".
At least three Palestinians were killed and hundreds injured on Friday afternoon during clashes with Israeli soldiers on the border between eastern Gaza Strip and Israel, the Gaza Health Ministry said. Other civilians shot the attacker, whom Israeli media identified as a 17-year-old from a nearby Palestinian village.
Asked about Abdel-Al's death, a military spokeswoman said only that troops had kept to their open-fire regulations. The closure came on the 25th anniversary of the Oslo accords, the first agreements between the rival Israelis and Palestinians which promised to end decades of deadly conflict, but which are now deadlocked and tarnished by soured relations.
The period has also seen occasional shelling exchanges between Gaza's Islamist Hamas rulers and Israel. Almost 20,000 Palestinians have also sustained injuries.
Israel accuses Hamas, the movement that runs the Gaza Strip, of seeking to use the protests to carry out attacks or infiltrations. There was no word of casualties.
Israel maintains a crippling blockade of the Gaza Strip which critics say amounts to collective punishment of the impoverished enclave's two million residents.
The Tel Aviv regime, under Prime Minister Benjamin Netanyahu, who hails from the hard-line Likud Party, has taken a radical shift to the far right, with cabinet members openly advocating the annexation of occupied Palestinian territories.
Last week, the Trump White House also announced the closure of the Palestine Liberation Organization in Washington.