Palestinian Authority says rebuild could take at least five years

The Palestinian Authority announced on Thursday that the reconstruction of the Gaza Strip, devastated by the most recent Israeli bombing campaign, will cost nearly $8 billion and would take up to 5 years, even if Israel removes its blockade over Gaza entirely.

A report published by the Palestinian Council for Development and Reconstruction shows US$2.5 billion will be needed just to rebuild the 17,000 homes destroyed by Israel. Another US$250 million will be needed to rebuild Gaza’s only power plant which was destroyed by Israeli bombings.

Along with other damages to civilian and private infrastructure, reconstruction amounts to a staggering US$7.8 billion. The report included the costs of building an airport and seaport, two key demands made by Hamas.

According to United Nations’ figures, over 100,000 Gazans have been left homeless and are now living in U.N. shelters.

Education is another important concern. US$143 million would be needed to reconstruct destroyed educational facilities, which have left over 500,000 children without schools.

US Secretary of State John Kerry met Wednesday with a Palestinian delegation, the first meeting with Palestinian officials since the Israeli bombings on Gaza began.

The Israeli government is still in Cairo discussing the terms by which a permanent cease-fire over the Gaza Strip will be achieved with the Palestinians.

The negotiations between Israel and Palestine will begin with border talks, and then proceed to other issues including the status of Jerusalem and the fate of Palestinian refugees.