Brussels Announced Financial Aid for Palestinians

The European Commission and more than a dozen partner countries and international banks on Monday launched the “Team Gaza” initiative, pledging €883.6m ($1.03bn) for urgent reconstruction projects in the Gaza Strip.

More than two and a half years after the war began following Hamas' October 2023 attack on Israel, much of Gaza remains in ruins. Despite a fragile ceasefire in place since last October, the UN estimates reconstruction will cost about $70bn.

The funding will help clear rubble and restore water, sewage and healthcare infrastructure. Donors include Spain, Germany, France, the United Kingdom, Japan and the World Bank.

Most of Gaza's roughly two million residents remain displaced, while Israeli forces control nearly 70% of the territory. Prime Minister Benjamin Netanyahu has described the area as a security buffer zone and said Israel does not plan to withdraw in the near future.

(Reuters, Max)