Rebuilding war-ravaged Gaza Strip will cost an estimated $71.4 billion over the next 10 years, according to a new report by the United Nations and the European Union with input from the World Bank.
The report said $26.3 billion will be needed in the first 18 months to restore essential services, rebuild critical infrastructure and support economic recovery.
It estimated damage to physical infrastructure at $35.2 billion, while economic and social losses since the war began following October 7 attacks are put at about $22.7 billion.
The report also highlighted the severe humanitarian toll, noting that Gaza’s economy has contracted by 84%, more than 371,000 housing units have been destroyed, over half of the territory’s hospitals are non-functional and nearly all schools have been damaged or destroyed.
UN spokesman Stéphane Dujarric said the next steps involve securing funding and ensuring the necessary humanitarian and security conditions on the ground.
“We need both the resources and the right conditions for reconstruction to take place — and we are not there yet,” he told reporters.