EU launches $1 billion initiative to support Gaza recovery

BRUSSELS, (UrduPoint / Pakistan Point News / WAM - 13th Jul, 2026) The European Commission today announced the launch of a joint initiative with 15 partners to provide €883.6 million, equivalent to around US$1 billion, in assistance to support recovery efforts in the Gaza Strip.

The Commission said the Team Gaza initiative, launched during the meeting of the Ad Hoc Liaison Committee for the Coordination of the International Assistance to Palestinians in Brussels, aims to support ongoing and planned early recovery projects for the benefit of Gaza's residents.

According to the European Commission, the initiative brings together 12 European countries, Japan, the World Bank and the European Investment Bank.