New report says Gaza recovery and reconstruction will cost $71.4 billion over 10 years
The report by the United Nations and the European Union with input from the World Bank says the total includes $26.3 billion in the first 18 months to restore essential services, rebuild critical infrastructure and support economic recovery.
The damage to physical infrastructure is estimated at $35.2 billion, and economic and social losses at some $22.7 billion since the war began following Hamas’ Oct. 7, 2023 attacks in southern Israel, the report says.
Gaza’s economy has contracted by 84%, more than 371,000 housing units in Gaza have been destroyed, over half of Gaza’s hospitals are “non-functional” and nearly all schools are destroyed or damaged, it says.
U.N. spokesman Stephane Dujarric told reporters Monday that the next steps are to get the funding and “the conditions on the ground, both humanitarian and security conditions for this reconstruction to happen — and I don’t think we’re there yet.”
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