Skip to main content

Egypt pledges $500 million for Gaza's reconstruction

Cairo, which is leading efforts to reach a cease-fire in the week-long conflict between Hamas and Israel, has pledged to help rebuild the battered Palestinian enclave.
MAHMUD HAMS/AFP via Getty Images

Egypt will provide the Gaza Strip with $500 million to finance its reconstruction following Israel’s bombing campaign against the militant group Hamas. President Abdel Fatah al-Sisi made the announcement in Paris during trilateral talks with French President Emanuel Macron and King Abdullah of Jordan aimed at drafting a concrete cease-fire proposal. 

"Due to the latest developments in Gaza Strip, Egypt will allocate $500 million for the reconstruction of the Palestinian coastal enclave," Sisi’s office posted on Facebook, adding that Egyptian firms will take part in the rebuilding.

For the past week, Israeli airstrikes have pummeled Gaza in retaliation for Hamas’ indiscriminate rocket attacks on Israel. The United Nations has reported major damage in densely populated areas across the Gaza Strip, including more than 200 housing units destroyed or severely damaged.

The fighting between Israel and the militants has left more than 200 people dead, most of them Palestinians. Health officials in Gaza say at least 61 children have died in Israeli airstrikes. 

Scores of Gazans have been made homeless by the bombardments. Since the conflict erupted last week, some 10,000 have fled their homes and the UN reports they have limited access to water, food, hygiene and health services. Fuel for the electricity used by hospitals as well as water and sanitation services is set to run out on Sunday. 

The already impoverished Gaza Strip paid a heavy price for the 50-day summer war between Israel and Hamas in 2014 that destroyed an estimated 17,000 homes and displaced about a quarter of Gaza’s population. An international donor conference held in the war’s aftermath raised $5.4 billion to help repair the territory’s infrastructure. 

Egypt’s latest pledge comes as Cairo spearheads diplomatic efforts for a cease-fire along with Qatar and the United Nations. Egypt shares a border with the Hamas-ruled territory and has long served as an interlocutor between Israel and the militant group. 

Sisi said on Monday that Egypt was "going to great lengths to reach a cease-fire … and hope still exists.”

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Already a Member? Sign in


The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.


What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial
What's included:
Our Expertise AI-driven

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

Text Alerts - Be the first to get breaking news, exclusives, and PRO content.

All premium Industry Newsletters - Monitor the Middle East's most important industries. Prioritize your target industries for weekly review:

  • Capital Markets & Private Equity
  • Venture Capital & Startups
  • Green Energy
  • Supply Chain
  • Sustainable Development
  • Leading Edge Technology
  • Oil & Gas
  • Real Estate & Construction
  • Banking

We also offer team plans. Please send an email to and we'll onboard your team.

Already a Member? Sign in

Start your PRO membership today.

Join the Middle East's top business and policy professionals to access exclusive PRO insights today.

Join Al-Monitor PRO Start with 1-week free trial