Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Gaza reconstruction to cost 7.8bn  Join our daily free Newsletter

MENAFN - Arab News - 05/09/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) RAMALLAH: Rebuilding Gaza will cost 7.8 billion the Palestinian Authority said on Thursday in the most comprehensive assessment yet of damage from a seven-week war with Israel during which whole neighborhoods and vital infrastructure were flattened.

The cost of rebuilding 17000 Gazan homes razed by Israeli bombings would be 2.5 billion the authority said and the energy sector needed 250 million after the Strip's only power plant was destroyed by two Israeli missiles.

'The attack on Gaza this time had no precedent Gaza has been hit with a catastrophe and it needs immediate help because many things can't wait long' Mohammed Shtayyeh a Palestinian economist and a senior member of the West Bank's dominant Fatah party said in Ramallah.

Rebuilding Gaza would depend heavily on foreign aid and would require an end to Palestinian rivalry and Israel opening its border crossings said Shtayyeh who heads the Palestinian Economic Council for Research and Development (PECDAR) which ran the survey.

But none of the factors mentioned by Shtayyeh appeared forthcoming. A donor conference in Cairo has yet to be formally scheduled Palestinian institutions remain divided between Gaza and the West Bank and Israel has yet to fundamentally ease the movement of people and goods at its Gaza border. The PA's assessment also found that the strip's education sector would need around 143 million to get back on its feet. About half a million children have been unable to return to their schools due to damage or because the buildings are being used to house refugees.

Over 106000 of Gaza's 1.8 million residents have been displaced to UN shelters and host families.

The remaining billions of dollars in the PECDAR assessment which was compiled by 13 experts resident in Gaza and their research teams were allocated to the financial health agriculture and transportation sectors all of which suffered widespread damage during the war.

The assessment also earmarked 670 million for an airport and sea port which Shtayyeh said was a Palestinian right but Israel has so far rejected.

In the week since an Egyptian-mediated cease-fire took hold on August 26 little progress has been made in getting the rebuilding underway or settling the bitter political rifts around Gaza.

An international donor conference jointly chaired by Egypt and Norway has yet to be formally scheduled and Israel has not fundamentally changed its curbs on the movement of people and goods especially crucial building materials on Gaza's border.

The cash-strapped Palestinian Authority barely has enough money to pay its own employees in the West Bank and has no immediate plans to pay employees in the Hamas-run Gaza Strip despite a unity pact signed between Fatah and Hamas in April.

 


Arab News




  MENA News Headlines
 Sep 15 2014 - Zain KSA makes new offer on data prepaid packagesArab News
(MENAFN - Arab News) Zain KSA launched its new offer for data packages which allows subscribers to enjoy the high speed Internet service with a 10 GB Data SIM valid for 3 months for SR80.The new ...

 Sep 15 2014 - Saudi- Mobily Forum for App Developers names five prize-winnersArab News
(MENAFN - Arab News) Mobily concluded on Saturday the activities of Mobily Forum for App Developers 2014 in Riyadh by naming five prize-winners after their apps passed the voting phase and jury ...

 Sep 15 2014 - Saudi- LG unveils new products at B2B dealer meetingsArab News
(MENAFN - Arab News) LG Electronics has held LG Dealer Seminar 2014 respectively in Jeddah and Riyadh where LG showcased its new projectors.The Jeddah seminar held on Sept. 1 was followed by another ...

 Sep 15 2014 - Nexen Tire N'blue Eco wins US Green Good Design AwardArab News
(MENAFN - Arab News) Nexen Tire N'blue Eco has been awarded the US Green Good Design Award 2014. Nexen Tire is stated to be the first in the industry to win the award and it also is a great ...

 Sep 15 2014 - Boeing opens new R1&D office at KAUSTArab News
(MENAFN - Arab News) Boeing opened a Boeing Research & Technology (BR&T) office in partnership with the King Abdullah University of Science and Technology (KAUST) to develop aerospace ...

 Sep 15 2014 - China's export-led growth to support demand for Gulf's oil productsArab News
(MENAFN - Arab News) China's trade surplus reached a record high in August for the second consecutive month. The surplus widened to $49.8 billion in August from $47.3 billion in July. So far this ...

 Sep 15 2014 - Emaar seeks to raise 1.58bn from malls unit's IPOArab News
(MENAFN - Arab News) DUBAI: Dubai's Emaar Properties is seeking to raise as much as 5.8 billion dirhams ($1.58 billion) from an initial public offer of shares in its shopping malls unit that is ...

 Sep 15 2014 - Global oil gas executives to gather for Middle East forumArab News
(MENAFN - Arab News) Today having a comprehensive operational excellence management system (OEMS) is increasingly important. An OEMS is the cornerstone of a company's commitment to managing safety ...

 Sep 15 2014 - Dubai stocks surge Tadawul index slipsArab News
(MENAFN - Arab News) DUBAI: Dubai developer Emaar Properties lifted the emirate's bourse on Sunday after announcing the price range for the initial public offer of its shoppingmalls unit while ...

 Sep 15 2014 - Saudis own 742 of shares in 14 industrial projects with AustraliaArab News
(MENAFN - Arab News) Saudi investors own 74 percent of shares in 14 industrial projects jointly invested by Saudi and Australian businessmen in the Kingdom while 20 percent of shares go to the ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help