A devastating report from the World Bank reveals that a staggering $53 billion is needed to rebuild Gaza after 15 months of Israeli attacks. The Interim Rapid Damage and Needs Assessment report details the extensive damage inflicted on the blockaded territory between October 2023 and October 2024.

Housing has been the hardest hit sector, with over 292,000 homes either destroyed or damaged, accounting for 53% of total damages. The cost of rebuilding these homes is estimated to be around $15.2 billion. Businesses and industrial sites have also suffered significantly, with 20% of damages, followed by “lifeline infrastructure” at 15%.

The report emphasizes the need for a Palestinian-led reconstruction process, reconnecting Palestinians in Gaza and the West Bank.

However, the future of Gaza remains uncertain, with US President Donald Trump proposing a plan to take over the Gaza Strip and turn it into the “Riviera of the Middle East.” This plan has been met with criticism, as it would involve permanently displacing two million Palestinians to neighboring Jordan and Egypt.

In contrast, the Egyptian government has announced plans to establish “secure areas” in Gaza for Palestinians to live while the strip is rebuilt. The World Bank report cautions that the lack of clarity about Gaza’s future and Israel’s continuing restrictions on the entry of people and goods into the blockaded territory are significant obstacles to reconstruction.

In the short term, the report recommends focusing on restoring social services and basic utilities, clearing rubble, and finding permanent homes for Gaza’s 1.9 million internally displaced people. The emphasis over the next three years should be on repairing partially damaged housing, providing cash assistance, and constructing additional living spaces in standing homes.