Cost of war: Gaza development set back by 77 years, new report finds

Gaza will need close to eight decades and tens of billions of dollars to recover from more than two years of war waged by Israel, according to a new report.

The European Union and the United Nations issued a joint report on Monday saying that human development across Gaza has been set back by a staggering 77 years, with $71.4 billion needed over the next decade for its recovery and reconstruction.

According to the Final Gaza Rapid Damage and Needs Assessment, jointly conducted by the EU and UN with the World Bank, $26.3 billion will be needed in the first 18 months to restore essential services, rebuild critical infrastructure and support economic recovery.

Physical infrastructure damages are estimated at $35.2 billion, with economic and social losses amounting to $22.7 billion from the Israel-Hamas war that began on October 7, 2023.

All sectors have been devastated, including housing, health, education, commerce and agriculture. More than half of all hospitals are non-functional and nearly all schools have been destroyed or damaged.

The economy has contracted by 84%.

More than 71,000 people have been killed and close to 200,000 injured, local authorities say. Many are still missing beneath the rubble.

Of those who survived, more than 60% have lost their homes, with almost two million people displaced.