Fayyad says Gaza needs at least two billion USD for it's reconstruction

Thursday February 26, 2009 14:15 by Ghassan Bannoura - IMEMC News & Agencies

The Appointed Palestinian Prime Minister, Dr. Salam Fayyad, stated on Wednesday evening that he will ask for $2 billion and $800 million USD, the requirement for the reconstruction of Gaza, during the Egyptian hosted donor conference next Monday.

Fayyad made his remarks during a press conference in the central West Bank city of Ramallah, after signing an agreement with the European Commission.

The agreement was made between the Palestinian Authority (PA), the Coordinating Council of the private sector and the European Commission, for a program of revitalization for the economic sector in the Gaza Strip. This is just one part of an integrated program for the reconstruction of Gaza.

Fayyad said, "the volume of funds required to meet the needs of reconstruction of the Gaza Strip, according to the document prepared by the PA, is $2 billion and $800 million dollars." He added that the document "would include the needs of reconstruction and revitalization of the economy in Gaza."

The Appointed Prime Minister continued to say, "the document is the basis on which donors are expected to commit to the provision of financial commitments in Sharm el-Sheikh.” Fayyad also stated that the program "deals with the need to compensate the private sector for damage to fixed assets in all productive sectors, except agriculture and livestock. The agreement for that was already signed.”

Fayyad added that , "the economic revitalization program consists of two phases, the first is comprised of compensation for damage to fixed assets, and another comes later in dealing with all that is required to stimulate the private sector in the areas of productivity."

He added that, "this stage will cost $152 million dollars, and will be implemented in cooperation with the Coordinating Council of the private sector and the European Union through the window of financing, adopted by the European Commission, for the supply of aid to the Palestinian Authority." The United States says it will donate $900 million to the PA for reconstruction in Gaza.

Gaza is in dire need of reconstruction, as a result of Israel's 22-day military operation that ended last month. The Attack left most of Gaza residential areas, including schools and hospitals, damaged, while at least 1,450 people were killed, and 6,000 others injured by Israeli military fire during the operation.

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