Yahya Shanar calls for Palestinian-led Gaza reconstruction

Yahya Shanar, Governor of the Palestine Monetary Authority, has called for the reconstruction of the Gaza Strip to be led by Palestinian institutions. Speaking at a meeting with Arab governors and World Bank Group President Ajay Banga, Shanar emphasized that recovery efforts should rely on the capabilities of the Palestinian banking and private sectors.

Shanar highlighted the readiness of Palestinian banks to support reconstruction, noting a capital adequacy ratio exceeding 17% and full automation of digital payments in Gaza. He stressed the importance of maintaining financial connectivity between the West Bank and Gaza to ensure resources meet national priorities.

According to World Bank and international estimates, the cost of reconstruction in Gaza exceeds $71 billion. Shanar urged for expanded international funding and the use of mechanisms such as the Palestinian Reconstruction and Development Fund (PFRD) and tools from the International Finance Corporation (IFC) to facilitate economic activity and manage risks.