Gaza requires over $71 billion for recovery in the next decade

Gaza’s Reconstruction Needs Estimated at $71 Billion Over 10 Years, Report Finds

A new report by the European Union and United Nations has assessed the damage caused by the recent conflict in Gaza and estimated that over $71 billion will be needed for recovery and reconstruction efforts over the next decade. The report, released on Monday, found that the conflict has had a significant impact on human development in the territory.

According to the report, physical infrastructure damages are estimated at $35.2 billion, while economic and social losses amount to $22.7 billion. The report also notes that Gaza’s housing sector is severely affected, with 371,888 units destroyed or damaged. Additionally, more than 50 percent of hospitals in the territory are nonfunctional, and nearly all schools have been destroyed or damaged.

The report highlights the need for significant funding to restore essential services, rebuild critical infrastructure, and support economic recovery. The European Union and United Nations have called for Gaza’s reconstruction to be led by the Palestinian Authority, with approaches that prioritize governance transition.

The report also notes that the conflict has had a devastating impact on Gaza’s population, with over 72,500 people killed, according to the Ministry of Health. Since the ceasefire took effect in October, at least 777 people have been killed, including Al Jazeera journalist Mohammed Wishah. The Israeli military is accused of breaching the fragile “ceasefire” agreement, which has resulted in widespread human suffering.

The report’s findings are based on a comprehensive assessment of Gaza’s needs, and both the European Union and United Nations have called for urgent action to address these needs.

Source: Al Jazeera