The Gaza Strip will receive €900 million ($1 billion) in donations from Europe following an EU-backed conference aimed at reconstruction on October 7, 2023. With around half of its two million residents currently living in tents due to the ongoing conflict, these funds will initially focus on providing essential water and sanitation facilities, as well as restoring the territory's health and food systems.
EU Conference Raises Funds for Gaza Reconstruction
The conference, which attracted Palestinian representatives and members of the Board of Peace established by former US President Donald Trump, successfully raised significant funds for the reconstruction of Gaza. EU foreign policy chief Kaja Kallas emphasized that reforms within the Palestinian Authority are necessary for continued EU support.
According to a UN report from May 2026, the total cost of recovery and construction in the Gaza Strip is estimated at $71.4 billion (€62.6 billion), indicating the scale of the devastation. With 371,888 homes directly impacted by the war, approximately 85% have been completely destroyed.
Impact of the War on Gaza's Population
Since the escalation of conflict on October 7, 2023, approximately 1.9 million Palestinians, or over 90% of the Gaza Strip's population, have been displaced. The war erupted after Hamas-led terrorist attacks that resulted in the deaths of around 1,200 Israelis and the taking of 251 hostages. The conflict has led to the tragic loss of more than 71,000 Palestinian lives, with many casualties being women and children.
