World Bank to allocate $63mn in aid to war-torn Gaza Strip

//World Bank to allocate $63mn in aid to war-torn Gaza Strip

World Bank to allocate $63mn in aid to war-torn Gaza Strip

By | 2014-10-24T01:09:16+00:00 October 24th, 2014|More Top Stories|0 Comments

The World Bank plans to allocate USD 63 million in emergency aid to the besieged Gaza Strip, which has witnessed heavy destruction due to a recent Israeli war.

The financial aid is expected to be approved on October 30, Inger Andersen, the World Bank’s vice president for the Middle East and North Africa, said in an interview with Palestine’s Ma’an news agency on Thursday.

The aid will be used for fixing the infrastructure in Gaza damaged during the recent 50-day Israeli military attack on the Palestinian enclave. The money is also planned to help the Palestinian Authority settle its debts and recover its losses.

“We’re rushing through four emergency projects right now,” Andersen said, adding, “We are trying very much to respond to this crisis and respond quickly enough.”

The Israeli regime started a war on the impoverished Gaza Strip on July 8. The war ended on August 26 with a truce that took effect after negotiations in the Egyptian capital city of Cairo. Over 2,100 Gazans were killed and 11,000 others injured in the Israeli war.

The Israeli military aggression against the Palestinian territory also caused widespread devastation across Gaza. Over 15,600 housing units were damaged in the onslaught and more than 2,200 houses were totally destroyed, according to official figures released by Palestinian sources.

Financial experts estimate that it would cost over USD 7 billion to rebuild the Gaza Strip.

On September 23, Rami Hamdallah, the prime minister of the Palestinian national unity government, called for the international community to donate USD 3.8 billion in aid to reconstruct Gaza.