Gaza Reconstruction to Cost $71.4bn Over 10 Years

Rebuilding the war-ravaged Gaza Strip will require an estimated $71.4 billion over the next decade, according to a joint assessment by the United Nations, the European Union and the World Bank.

The report said $26.3 billion would be needed in the first 18 months to restore essential services, rebuild critical infrastructure and support economic recovery.

It estimated damage to physical infrastructure at $35.2 billion, while broader economic and social losses since the start of the war following the October 7 attacks were put at around $22.7 billion.

The assessment also highlighted the severe humanitarian impact of the conflict. Gaza’s economy has contracted by 84 percent, more than 371,000 housing units have been destroyed, over half of the territory’s hospitals are no longer functional, and nearly all schools have been damaged or destroyed.

Stéphane Dujarric said the next phase would depend on securing funding and ensuring adequate conditions on the ground.

“We need both the resources and the right conditions for reconstruction to take place — and we are not there yet,” he said.

The report underscores the scale of destruction and the long-term challenges facing efforts to rebuild Gaza’s economy and infrastructure.