Gaza reconstruction requires $71.5 billion, UNCTAD reports

The United Nations Conference on Trade and Development (UNCTAD) reports that the Gaza Strip requires approximately $71.5 billion for full reconstruction. This figure includes $35.2 billion in infrastructure damage and $22.7 billion in economic losses, an amount equivalent to 2.5 times the combined GDP of Gaza and the West Bank. Key needs include $16.2 billion for housing, as well as repairs for healthcare and education facilities, with 93% of schools and over half of hospitals currently requiring work.

In response, the US-backed Board of Peace (BoP) has unveiled an initial six-month recovery plan valued at $2.45 billion. The proposal includes 66 projects focused on temporary shelters, debris removal, and the restoration of medical facilities. Implementation is planned to begin in Rafah and expand to Khan Younis, central Gaza, Gaza City, and northern Gaza as security allows.

However, the plan faces significant hurdles. Implementation remains stalled due to disputes regarding the sequencing of Hamas’s disarmament, the transfer of authority to the National Committee for the Administration of Gaza (NCAG), and the phased withdrawal of Israeli forces. Negotiations continue amidst ongoing military operations and political sensitivities.