US-backed Board of Peace unveils US$2.5bil Gaza recovery plan

The US-backed Board of Peace unveiled a US$2.45 billion Gaza recovery plan at a meeting in New York, aiming to span over six months. The proposal, presented amid world leaders' calls for action to end the conflict with Israel, seeks to address the devastation left by Israeli strikes. As of October 2025, Israeli attacks had damaged or destroyed 84% of all structures in Gaza, according to UN figures.

The plan includes 66 projects focused on temporary housing, debris recovery, and infrastructure development, such as public transport. The board's high representative, Nickolay Mladenov, called for support for the plan but acknowledged the political sensitivity surrounding discussions with Israel, particularly given the upcoming elections.

The proposal also envisions demilitarization in Gaza, requiring Hamas to relinquish its weapons and a military pullback by Israel. Despite a US-brokered ceasefire in October 2025, Israel continues to launch airstrikes and restrict the entry of essential equipment for reconstruction. Israeli Prime Minister Benjamin Netanyahu asserts control over 60% of the Gaza Strip.

The Board of Peace, chaired by US President Donald Trump, was initially established to oversee the Gaza truce and reconstruction following the war between Hamas and Israel. The board estimates the damage across Gaza at US$35.2 billion, with the recovery process requiring an additional US$71.4 billion.