Thursday 4 September 2014

Palestinians put Gaza reconstruction cost at $7.8 billion

Palestinians sit atop the ruins of their house which witnesses said was destroyed during the Israeli offensive, in the east of Gaza City By Noah Browning RAMALLAH West Bank (Reuters) - Rebuilding Gaza will cost $7.8 billion, the Palestinian Authority said on Thursday, in the most comprehensive assessment yet of damage from a seven-week war with Israel during which whole neighborhoods and vital infrastructure were flattened. "The attack on Gaza this time had no precedent, Gaza has been hit with a catastrophe and it needs immediate help because many things can't wait long," Mohammed Shtayyeh, a Palestinian economist and a senior member of the West Bank's dominant Fatah party, told reporters in Ramallah. Rebuilding Gaza would depend heavily on foreign aid and would require an end to Palestinian rivalry and Israel opening its border crossings, said Shtayyeh, who heads the Palestinian Economic Council for Research and Development (PECDAR) which ran the survey. A donor conference in Cairo has yet to be formally scheduled, Palestinian institutions remain divided between Gaza and the West Bank and Israel has yet to fundamentally ease the movement of people and goods at its Gaza border.




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