Gaza Reconstruction Fund gains momentum: Iraq to be key player
Shafaq News – Gaza
Iraq is set to take a central role in Gaza’s reconstruction as preparations advance for a new summit aimed at launching an international fund to finance the rebuilding effort, a senior Arab diplomatic source revealed on Tuesday.
The source told Shafaq News that discussions at Monday’s Sharm el-Sheikh Peace Summit produced early agreements—implicitly backed by the US—to establish a Gaza Reconstruction Fund supported by donations from countries endorsing the peace framework.
According to the source, the upcoming summit, expected to be held in a Gulf state, will define each country’s financial commitment, outline funding mechanisms, and set project timelines, with Turkish and American firms leading most of the reconstruction work.
“Iraq’s role in reconstruction will be as crucial as its efforts to uphold regional security and stability,” the source noted.
Monday’s summit, co-chaired by US President Donald Trump and Egyptian President Abdel Fattah el-Sisi, brought together over 30 nations and resulted in a joint agreement between the US, Egypt, Turkiye, and Qatar to enforce a permanent ceasefire between Hamas and Israel and launch post-conflict recovery.
The agreement also marked the next stage of Trump’s peace initiative, shifting focus to infrastructure rebuilding and economic revitalization in Gaza.
Read more: Sharm El-Sheikh Summit: A narrow opening or a carefully staged pause?
Earlier today, the United Nations Development Programme (UNDP) estimated total reconstruction costs at $70B, with more than 55 million tons of debris still covering Gaza.
Local authorities reported that 95% of trucks and heavy equipment have been destroyed, 193,000 buildings leveled, and only 16 hospitals remain partially functional, creating major logistical obstacles despite growing international support.
