Israel’s attacks mean Gaza rebuild could exceed $50 bn
Gaza will need over $50 billion to recover from 15 months of Israeli bombardment, according to estimates from the UN, EU, and World Bank, the New Arab via Reuters reported on February 19th.
The Interim Rapid Damage and Needs Assessment (IRDNA) calculated total reconstruction costs at $53.2 billion over the next 10 years, with approximately $20 billion needed in the initial three years.
Researchers found that Israeli attacks caused $49 billion in physical damage and economic and social deficiencies in the ending October 2024. Over half the reconstruction cost—nearly $30 billion—will be used to rebuild Gaza’s physical infrastructure, which has largely been destroyed.
The UN estimates 69% of structures in Gaza have been damaged or destroyed by Israel, with the IRDNA reporting 292,000 housing units destroyed— which amounts to around 62% of Gaza’s housing stock. The economic and social deficiencies— which would need over $19 billion for compensation—stem from the destruction of healthcare, schools, commerce, and industry.
The report said all of Gaza’s schools, nearly all its hospitals, and 88% of buildings used for industry and commerce have been severely damaged or destroyed.
“The recovery and reconstruction needs identified in this IRDNA report are vast,” the report said.
It added: “Funding will require a broad coalition of donors, diverse financing instruments, private sector resources, and significant improvements in the delivery of construction materials to Gaza in the post-conflict period.”
The assessment comes as Arab nations push for a post-war reconstruction plan, countering US President Donald Trump’s proposal to occupy Gaza and displace its 2.2 million residents.
Trump’s plan has sparked outrage and was strongly rejected by Egypt and Jordan, whom he urged to take in displaced Palestinians.
Sources suggest Arab and Gulf states may contribute $20 billion, enough to cover the first three years of rebuilding. The Arab League will meet in Cairo on March 4th to conclude the plan before they discuss it with the White House.
Israel’s far-right government supports Trump’s proposal and has started preparing to encourage the “voluntary” relocation of Palestinians.
The next phase of ceasefire talks aims to free prisoners, withdraw Israeli troops, establish a post-war Gazan administration, and put a permanent end to the war. However, Israel has breached the ceasefire, stopping certain items from entering Gaza and continuing attacks.
The 15-month war on Gaza has killed nearly 48,300 Palestinians and injured over 111,700 others.
The New Arab
