Overview
- The European Commission and a coalition of more than a dozen countries and institutions launched the Team Gaza Initiative on Monday with an initial €883.6 million to fund early recovery work in Gaza.
- The package is aimed at restoring basic services such as water and sanitation, clearing rubble, and re-establishing health, energy, agriculture and food systems.
- The Commission and the European Investment Bank proposed about €257 million of the initial amount, while a separate EU mechanism raised €41.7 million to channel funds to the Palestinian Authority and the Commission signalled a further €310 million in support.
- Jared Kushner joined the Brussels meeting by video link as part of U.S. engagement, underscoring efforts to coordinate among the European Union, the U.S.-backed Board of Peace and Palestinian officials.
- The new funds cover only a small share of the roughly $71 billion international estimate for Gaza’s 10-year recovery and may face delays or limits on use because of ongoing security conditions, Israeli control of access, and donor demands for governance and fiscal reforms.