Thursday, 4 September 2014

Report: Rebuilding Gaza to cost $7.8 billion


GAZA CITY (Ma'an) -- The reconstruction of the Gaza Strip will cost $7.8 billion, Palestinian experts said in a report Thursday, as the Palestinian labor minister said 100,000 jobs could be created in Gaza if Israel held to its promise to end its siege within the month.

The Palestinian Economic Council for Development and Reconstruction, a Palestinian Authority body that oversees the implementation of donor-financed projects, said the process would take "five years if Israel removed its blockade over Gaza entirely."

Direct losses were estimated at $4.4 billion, while a budget of $3.02 billion was set for the development needs of the Gaza strip which include a seaport and a water desalination plant.

The 200-page document set a strategy to relief the people of Gaza and link that to the sustainable development that will help reduce unemployment and poverty. more

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