An EU-backed conference held in Brussels has secured approximately €900 million ($1 billion) in donations aimed at the reconstruction of the Gaza Strip. The funding is intended to address the urgent needs of the enclave, where roughly half of the two million residents are currently living in tents due to the ongoing conflict between Israel and Hamas. The primary focus of the initial aid will be to restore basic water and sanitation facilities, alongside the rehabilitation of critical health and food systems that have been severely damaged during the hostilities.
The Team Gaza Initiative has been designated to coordinate these reconstruction efforts. During the conference, which included Palestinian representatives and members of the Board of Peace—a technocratic body established by US President Donald Trump and led by Bulgarian diplomat Nickolay Mladenov—the European Union's foreign policy chief, Kaja Kallas, emphasized that continued support from the bloc is contingent upon reforms within the Palestinian Authority.
The scale of the destruction is immense. According to a UN report from May 2026, the total cost for recovery and construction in Gaza is estimated at $71.4 billion (€62.6 billion). The report further highlights that 371,888 homes have been directly affected by the war, representing three-thirds of the total housing stock, with 85% of those homes completely destroyed. More than 90% of the population, or approximately 1.9 million Palestinians, have been displaced, often multiple times.
The conflict erupted following the October 7, 2023, Hamas-led attacks, which resulted in the deaths of 1,200 Israelis and the taking of 251 hostages. Since that date, more than 71,000 Palestinians have been killed in the Gaza Strip, including many women and children. The UN reported that 450 people were killed in the period between the announcement of a ceasefire and mid-January 2026. In September 2025, the UN Commission of Inquiry accused Israel of committing genocide, a charge supported by various international and local human rights organizations. While Israel has consistently denied these claims, the International Court of Justice continues to deliberate on a genocide case brought by South Africa in 2023.
