U.S. announces cost of Gaza reconstruction

U.S. Middle East Special Envoy Steve Witkoff said a “master plan” for Gaza’s postwar reconstruction is already in place, emphasizing that rebuilding efforts will be led through a transparent and regionally backed process involving Arab and international partners.

According to him, the plan - estimated at around $50 billion - aims to restore Gaza’s infrastructure following the ceasefire deal mediated by the U.S., Qatar, Egypt and Türkiye.

“I think it’s going to cost a lot of money. The estimates are in the $50 billion range. It might be a little bit less, it might be a little bit more. But that’s not a lot of money in that region. You have governments that are going to jump on in," Witkoff said.

The envoy said the first priority is “how to get it going,” adding that funding from Middle Eastern and European countries would support a “Board of Peace” responsible for overseeing reconstruction contracts.

“We’re already talking to contractors from all of the Middle Eastern countries,” Witkoff noted, stressing that the board will ensure transparency and speed in rebuilding.