Economic Update: Global Support for Gaza Reconstruction
Foreign ministers from France, Germany, Italy, and Britain have expressed their endorsement of an Arab initiative aimed at reconstructing Gaza, projected to cost $53 billion. This plan is designed to ensure the residents of the Gaza Strip are not displaced in the aftermath of ongoing conflict.
In a joint statement, these ministers affirmed that the plan represents a pragmatic pathway for revitalizing Gaza. They emphasized that if enacted, it could lead to swift and sustainable improvements in the dire living conditions faced by Palestinians in the region.
The proposal, drafted by Egypt, was ratified by Arab leaders during a summit last Tuesday, though it faced rejection from U.S. President Donald Trump, who introduced his own vision for Gaza, aiming to transform the area into what he refers to as a “Middle East Riviera.”
**The Egyptian Proposal**
The Egyptian plan outlines the establishment of an independent administrative committee composed of professional Palestinians who would govern Gaza following the cessation of hostilities. This committee is tasked with overseeing humanitarian assistance and managing municipal affairs temporarily, with oversight from the Palestinian Authority.
**European Support Statement**
The collective statement from the European nations reaffirmed their commitment to engaging with the Arab initiative, acknowledging the “significant reference” provided by Arab states through their formulation. It notably asserted that Hamas should no longer govern Gaza or pose a threat to Israel. The four European nations have reiterated their support for the central role of the Palestinian Authority and its reform agenda.
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