A joint European Union and United Nations assessment estimates that Gaza will require more than $71 billion over the next decade for recovery and reconstruction, with $26.3 billion needed in the first 18 months alone. The conflict, which began with Hamas-led attacks on October 7, 2023, and prompted an Israeli military response that killed more than 72,500 people according to Gaza's Ministry of Health, has devastated the territory with $35.2 billion in physical infrastructure damage and $22.7 billion in economic losses. Nearly all schools have been destroyed or damaged, over 50 percent of hospitals are nonfunctional, and 371,888 housing units are damaged, displacing 1.9 million people and causing Gaza's economy to contract by 84 percent. Despite a ceasefire agreed in October, Gaza's Government Media Office reports 2,400 Israeli violations, with at least 777 additional deaths since the ceasefire took effect.
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