The cost of rebuilding and developing the Gaza Strip, which has reeled under a recently-ended Israeli military onslaught, has been estimated at $7.8 million, a senior Palestinian official said Thursday, Anadolu Agency reported.
Mohamed Shtayyeh, who leads the Ramallah-based Palestinian Economic Council for Development and Reconstruction, told a Thursday press conference that $5 million was needed to repair material damage caused by Israel's weeks-long offensive on the Gaza Strip, while another $2.8 million was needed for development projects in the embattled coastal enclave.
"The extent of destruction in the Gaza Strip is unprecedented," Shtayyeh said.
He added that the reconstruction process would take five years if the years-long Israeli blockade on the Gaza Strip was lifted, which would ease the movement of personnel and commodities.
He also said finances for reconstruction plans must be provided "swiftly."
Shtayyeh said that Palestinian losses following Israel's offensive had resulted in direct and indirect economic losses worth nearly $3 billion.
An international donor conference for the reconstruction of the embattled Gaza Strip is scheduled for next month in Egypt.