Gaza reconstruction requires over $71 billion, according to UN and EU assessment
via Punch Nigeria2 min read
A joint assessment by the United Nations and the European Union indicates that more than $71 billion will be necessary for the recovery and reconstruction of Gaza over the next decade. The final Gaza Rapid Damage and Needs Assessment, developed in coordination with the World Bank, highlights that two years of conflict have led to significant loss of life and a severe humanitarian crisis. The assessment estimates physical infrastructure damages at $35.2 billion, with economic and social losses totaling $22.7 billion. An initial $26.3 billion is needed within the first 18 months to restore essential services, rebuild critical infrastructure, and support economic recovery. The report notes that 371,888 housing units have been destroyed or damaged, over 50 percent of hospitals are non-functional, and nearly all schools have been affected. Approximately 1.9 million people, almost Gaza's entire population, have been displaced, with more than 60 percent losing their homes. Gaza's economy has contracted by 84 percent, and human development in the region has been set back by 77 years due to the extensive deprivation across various aspects of life.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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