According to World Bank, the damage from the escalation is estimated at between $290 million to $380 million
The United Nations on Wednesday called for a political solution to end the conflict between Israelis and Palestinians, although the international community is providing urgent assistance to Gaza in the wake of the most recent round of hostilities.
"Urgent efforts to improve the situation in Gaza must move forward swiftly, but let us not lose sight of the broader goal: resolving the Israeli-Palestinian conflict, ending the occupation and realizing a two-state solution on the basis of UN resolutions, international law and bilateral agreements," said Lynn Hastings, the UN humanitarian coordinator in Palestine, while briefing the Security Council on developments in the aftermath of 11 days of brutal fighting in May, BSS reported citing Xinhua.
Speaking from Jerusalem via video link, Hastings told ambassadors that the damage from the escalation is estimated at between $290 million to $380 million, according to an assessment by the World Bank and the European Union.
Economic losses are projected at nearly $200 million. Gaza's social sector was hit hard, weakening the safety net for the most vulnerable residents, while the immediate and short-term recovery and reconstruction could cost up to $485 million.
"International efforts - coordinated by the United Nations - to implement the humanitarian response and stabilize the situation on the ground in Gaza are well underway," said Hastings, who is also the UN resident coordinator in the Middle East.
"Thus far, some 45 million dollars of a requested 95 million dollars has been raised for the consolidated humanitarian flash appeal published by the UN in May," she said.
Hasting underscored the readiness of the UN and partners to implement recovery and reconstruction initiatives, in coordination with the Israeli and Palestinian authorities, Egypt, Qatar and other regional and international entities.
She reported that fuel deliveries for the Gaza Power Plant resumed on June 28 through the Kerem Shalom crossing, and additional restrictions on the import and export of certain items have been lifted.
Israel also expanded the Gaza fishing zone up to 12 nautical miles, but reduced it by half this week following the launch of incendiary balloons into its territory.