The World Bank, UN and EU jointly stated that the Gaza Strip requires about $485 in order to immediately recover from the recent aggression against it.

Kanthan Shankar, Country Director of the World Bank for West Bank and Gaza, said that the recent war on Gaza was another unfortunate event from which the Palestinian Gaza suffered. He said that the humanitarian crisis increased amidst the collapsing economy. The GDP would drop to 0.3% in 2021 in comparison with 2.5% annual growth.

Shankar expressed his hope for mobilizing donors to improve the living conditions and provide stable income for the residents of Gaza in preparation for recovery.

In May, the unemployment rate reached 50% as over half of the population lives in poverty. After the last war, 62% of Gaza residents started suffering from food insecurity.

Gaza also started suffering from economic losses ranging between $105M - $190M.

Tor Wennesland, UN Special Coordinator for the Middle East Peace Process, said that the ceasefire was still fragile, and urged all competent authorities to raise funds for the Gaza Strip.