Over $50 Billion Needed to Rebuild Gaza: UN, World Bank, EU

A joint assessment by the United Nations (UN), the European Union (EU), and the World Bank has revealed that Gaza will require more than $50 billion for recovery and reconstruction following Israel’s military offensive. The Interim Rapid Damage and Needs Assessment (IRDNA), released on Tuesday, estimates that $53.2 billion is needed over the next decade, with $20 billion required in the first three years alone.

Devastation and the Cost of Rebuilding

The prolonged conflict has left Gaza in ruins. The war followed an October 7, 2023 attack by Hamas on Israel, which resulted in the deaths of 1,200 people and the taking of more than 250 hostages, according to Israeli sources. In response, Israel launched a military operation that has reportedly killed over 48,000 people and displaced hundreds of thousands, according to Gaza health officials.

The IRDNA states that more than 292,000 homes have been destroyed or severely damaged. Additionally, 95% of hospitals are non-functional, and the local economy has contracted by 83%, making economic recovery a massive challenge.

Key Areas of Reconstruction

The report highlights the financial breakdown for rebuilding efforts:

• $29.9 billion will be allocated for infrastructure repair, including residential, commercial, and public buildings.
• $15.2 billion is required specifically to reconstruct housing units.
• $19.1 billion is needed to restore the social and economic sectors, including health, education, commerce, and industry.

The ongoing devastation also presents logistical hurdles. Millions of tons of rubble and unexploded ordnance must be cleared before any large-scale rebuilding efforts can begin.

Uncertain Future of Reconstruction

Despite the urgent need for recovery, the IRDNA warns that large-scale reconstruction efforts cannot commence immediately. The lack of a clear governance framework for Gaza post-war, combined with security concerns, has left the future of reconstruction uncertain.

“The speed, scale, and scope of recovery will be shaped by these conditions,” the report states, emphasizing the need for political stability and international cooperation.

Global Response

The international community has expressed concern over the humanitarian crisis in Gaza. The current ceasefire, implemented last month, remains fragile, and there is no clear roadmap for long-term peace. However, humanitarian aid and funding from global organizations are crucial in addressing the immediate needs of displaced populations.

As Gaza struggles to recover from one of the most destructive conflicts in its history, the call for international assistance grows louder. Rebuilding efforts will require not just financial investment but also political will, security arrangements, and sustainable governance to ensure a stable and prosperous future for the people of Gaza.

The destruction in Gaza has led to unprecedented humanitarian and economic challenges. With $53.2 billion needed over the next decade, the path to recovery will be long and complex. While global organizations and donors are expected to play a key role, lasting peace and security remain critical for sustainable reconstruction. The world watches as Gaza attempts to rebuild amid uncertainty and hardship.

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