Gaza reconstruction estimated to cost over $71 billion

The cost of rebuilding the Gaza Strip is estimated at $71.4 billion, a figure seven times higher than the total reconstruction expenses following previous Israeli military incursions over the past two decades, according to a new joint report.

The extensive destruction from the ongoing war, which has lasted over two years, has claimed the lives of at least 73,000 Palestinians, injured 173,000, and displaced 1.9 million residents. The United Nations, European Union, and World Bank's latest Rapid Damage and Needs Assessment (RDNA), released in April, estimates the required funds for Gaza's recovery. A recent report by Oxfam, the Palestinian Economic Policy Research Institute (MAS), and the Palestinian Trade Center (PalTrade) indicates that human development in the region has regressed by 77 years.

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Reconstruction is not just a humanitarian task; it is a political endeavor.

The report stresses that Gaza's reconstruction cannot proceed without direct Palestinian participation. "Reconstruction is not just a humanitarian task; it is a political endeavor," stated Misyef Jamil, a senior researcher at MAS. "Any plan designed in foreign capitals, even with substantial funding, will merely be a cosmetic exercise, another form of domination over the land and the lives of the Palestinian people." Consultation sessions across Gaza conveyed a clear message: "No decisions about our future without our involvement."

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Any plan designed in foreign capitals, even with substantial funding, will merely be a cosmetic exercise, another form of domination over the land and the lives of the Palestinian people.

The April RDNA assessment projected that $71.4 billion (approximately RM292.3 billion) is needed over the next 10 years for recovery and reconstruction efforts in Gaza. The report also estimated the total economic damages and losses at $57.9 billion (RM237 billion). The initial 18 months of the reconstruction phase require $26.3 billion (RM107.6 billion) to restore basic services, rebuild critical infrastructure, and support economic recovery.

Oxfam compared the current recovery needs assessment with previous Israeli military actions in Gaza since 2008, noting the significantly higher cost this time. The report details the devastation across housing, education, and health sectors, as well as the profound impact on cultural and social structures due to the destruction of mosques, museums, and historical sites.

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No decisions about our future without our involvement.