Gaza Infrastructure Damages Estimated at $18.5 Billion

A joint report by the World Bank and the United Nations revealed that the cost of damage to buildings and vital infrastructure in the Gaza Strip has reached approximately $18.5 billion as of the end of January 2024.

Funded by the European Union, the report indicates that this figure accounts for 97% of the combined Gross Domestic Product (GDP) of the West Bank and Gaza Strip for the year 2022.

According to the report, the damages to infrastructure facilities affect all sectors of the economy, with residential buildings constituting 72% of the total cost.

Infrastructure for public services such as water, health, and education represents 19%, while damages to commercial and industrial buildings make up 9% of this cost.

The report highlights that the rate of damage has stabilized in many sectors, leaving only a few assets intact. 

However, the destruction has left behind a massive amount of debris and rubble, estimated at around 26 million tons, which may take years to remove and dispose of.

With 92% of major roads destroyed or disabled and deteriorating communication infrastructure, delivering essential humanitarian aid to the population has become extremely challenging.

The report also addresses the impact on Gaza's population, noting that more than half of them are on the brink of famine. 

All residents suffer from acute food insecurity and malnutrition, with over a million people homeless and 75% of the population displaced.

The World Bank stated that the "Rapid Damage Assessment" report utilized remote data collection sources to estimate the damage to physical infrastructure in vital sectors between October 2023 and the end of January 2024.