The Palestinian cabinet has approved a $5 billion plan for the economic revival and reconstruction of the Gaza Strip, in the wake of the recent Israeli assault, according to a senior official.’We will seek to collect international donations in order to materialize our ambitious vision of rebuilding Gaza during the donor countries conference scheduled to be held in Cairo on Oct. 12,’ Deputy Prime Minister Muhammad Mustafa stated Saturday.

According to a report by Ma’an News Agency, the rehabilitation of infrastructure in Gaza will cost $1.9 billion, while reconstruction and rehabilitation of houses will cost another billion.

Approximately $700 million will be needed for humanitarian, social, health, and education aid for Palestinians in Gaza. Many lost homes and family members and some have become severely disabled as a result of the war.

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Furthermore, it is reported that another $1.2 billion will be needed to reactivate Gaza’s economy and increase productivity, while governmental institutions are requiring some $200 million to improve employment capacities.

This plan was prepared by a committee of 200 experts representing 20 national bodies, including ministries and institutions, the majority of whom are based in Gaza.

According to Mr. Mustafa, the plan was three times more intensive than a similar plan in 2009, crafted by the Palestinian Authority, following Operation Cast Lead.

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