Saudi Arabia promises $500 million for Gaza rebuilding

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GAZA: Saudi Arabia has pledged $500 million to help rebuild Gaza, Palestinian Prime Minister Rami al-Hamdallah said Thursday, with the full cost of postwar reconstruction expected to be around $4 billion over three years.

Saudi Arabia’s commitment comes ahead of a conference in Cairo on Oct. 12 when Palestinian leaders hope other donors, including Turkey, Qatar, the European Union and United States, will step forward with promises of support.

“ Saudi Arabia has initiated donations by pledging $500 million,” Hamdallah told reporters in Gaza, speaking via video conference from the West Bank. He said he hoped further pledges would cover the full cost of reconstruction in time.

An estimated 18,000 homes were destroyed during the seven-week war, while a further 40,000 were extensively damaged. more

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