New York, September 24, 2026 ; A senior European Union official has highlighted the enormous financial challenge facing efforts to rebuild Gaza, saying that only a small fraction of the funds estimated to be required for reconstruction has been raised so far.
According to estimates cited by the United Nations, World Bank and European Union, approximately €71 billion could be required to rebuild Gaza and address the extensive damage caused by years of conflict. However, only around €1 billion has reportedly been collected to date.
The figures point to a substantial funding gap and underscore the scale of the reconstruction challenge facing Gaza.
EU Calls for Greater International Support
European Commissioner for the Mediterranean Dubravka Suica has called for increased international efforts to support Gaza’s recovery.
Suica advocated a coordinated recovery plan involving the relevant regional and international stakeholders, with the objective of bringing together efforts related to reconstruction, administration and long-term recovery.
$2.45 Billion Six-Month Programme Proposed
A meeting of the Gaza Board in New York also discussed a proposed US$2.45 billion six-month programme.
The plan is aimed at beginning reconstruction efforts while establishing governance arrangements for Gaza. The proposal forms part of wider international discussions over the territory’s future administration, recovery and reconstruction.
Huge Funding Gap Remains
With approximately €1 billion raised against an estimated €71 billion requirement, roughly €70 billion remains between the reported funds collected and the estimated reconstruction need.
Closing that gap will require substantial additional financing and coordination among international and regional stakeholders.
The discussions are taking place amid continuing diplomatic efforts over Gaza’s future, including proposals concerning reconstruction, governance and the implementation of a ceasefire framework.
