Reconstruction efforts in Gaza will require more than $50 billion after 15 months of Israel’s catastrophic war, according to new assessments by the United Nations, the European Union and the World Bank.
The figure comes as Arab countries continue their scramble to find a viable recovery plan, replacing the massive displacement of the 2 million residents of the Palestinian enclave proposed by President Donald Trump.
The Gaza & West Bank Provisional Fast Damage and Needs Assessment (IRDNA) released on Tuesday revealed that between October 8, 2023 and October 8, 2024, Israeli war with Gaza was destroyed 490. It calculated it caused billions of dollars.
Researchers concluded that $53.2 billion will be needed to restore and rebuild Palestinian territory over the next decade, and that the full amount of about $2 billion will be required in the first three years alone.
“Funding requires a significant improvement in the provision of reconstruction materials to Gaza in the post-conflict period, broad coalition of donors, diverse funding instruments, private sector resources, and reconstruction materials to Gaza during the post-conflict period,” the joint report states. .
Damaged buildings and other major infrastructure require more than half of the estimated cost of reconstruction ($29.9 billion). Meanwhile, funds to replenish Gaza’s destroyed residential housing stock form a large portion of that figure.
Housing suffered the most during the 15-month attack on Israeli territory, with the report accounting for 53% of the total destruction created by Israeli forces in Gaza, claiming that more than 292,000 homes have been destroyed or damaged. I’m estimating it.
An additional $19.1 billion will be needed to compensate for the social and economic losses caused by serious damage to the health, education, commercial and industrial sectors of Gaza, the report estimates.
Researchers also say that while 95% of Gaza hospitals are currently not functioning, the local economy is contracted 83%.
Ildna was a follow-up to an interim damage assessment (IDA) issued by the UN, the EU and the World Bank in April 2024, estimated approximately $18.5 billion in damages after just four months of Israeli war. .
Removing untreated weapons and removing millions of tons of tiled rubber is first part of a reconstruction effort.