Cost of damage to critical infrastructure in Gaza estimated at 18.5 bln USD: report-Xinhua

Cost of damage to critical infrastructure in Gaza estimated at 18.5 bln USD: report

Source: Xinhua

Editor: huaxia

2024-04-03 03:53:00

WASHINGTON, April 2 (Xinhua) -- The cost of damage to critical infrastructure in Gaza is estimated at around 18.5 billion U.S. dollars, according to a new report released Tuesday by the World Bank and the United Nations.

The report, which was conducted with the financial support of the European Union, shows that the cost of damage is equivalent to 97 percent of the combined Gross Domestic Product (GDP) of the West Bank and Gaza in 2022.

The Interim Damage Assessment report used remote data collection sources to measure damage to physical infrastructure in critical sectors incurred between October 2023 and end of January 2024.

The report finds that damage to structures affects every sector of the economy. Housing accounts for 72 percent of the costs. Public service infrastructure such as water, health and education account for 19 percent, and damages to commercial and industrial buildings account for 9 percent.

An estimated 26 million tons of debris and rubble have been left in the wake of the destruction, an amount that is estimated to take years to remove, the report noted.

The report also showed that more than half the population of Gaza is on the brink of famine and the entire population is experiencing acute food insecurity and malnutrition. Over a million people are without homes and 75 percent of the population is displaced.