EU Launches €883.6 Million Fund for Gaza Recovery

The European Commission held the second Palestinian Donor Group meeting in Brussels on Monday, launching the Team Gaza Initiative, which provides coordinated funding of €883.6 million (approximately US$1.03 billion) to support the early recovery of Gaza. The funds will be directed towards water and sanitation, debris clearance, waste management, health, energy, agriculture, and food systems. The initiative is supported by the European Commission, the European Investment Bank, the World Bank, and countries including Spain, Denmark, the United Kingdom, Germany, Norway, Finland, Italy, France, the Netherlands, Japan, Switzerland, Sweden, and Belgium. Australia and Canada have also expressed interest in joining. The donor meeting also resulted in additional funding commitments through the EU’s PEGASE mechanism, with member states signing new contribution agreements worth €41.7 million (approximately US$48.7 million). The European Commission stated that the Team Gaza Initiative aims to coordinate international support to restore basic services and infrastructure in Gaza, complementing global efforts for the recovery of the Palestinian enclave devastated by the conflict. The Commission also highlighted progress made by the Palestinian Authority in implementing governance, fiscal, public administration, social protection, education, and infrastructure reforms in line with its reform agenda.