The European Union is coordinating pledges totaling around US$1 billion to support recovery efforts in Gaza, according to multiple reports. The contributions are being raised alongside support from broader international partners, including the United Nations and the World Bank. The UN, World Bank and EU estimate that reconstruction in the Palestinian territory will cost roughly US$70 billion, reflecting extensive damage across the region. One report describes the scale of destruction as affecting most of the area and highlights that the Palestinian territory is home to more than 2 million people, with few communities left untouched. The EU’s fundraising effort involves rallying dozens of nations to contribute to a Gaza recovery fund, with the initial pledged amount reported at about US$1 billion. While the pledged figure is a fraction of the estimated overall reconstruction cost, sources agree it is intended to help kick-start longer-term rebuilding, support recovery planning, and mobilize additional international financing. The reported estimates and the magnitude of damage cited by the UN, World Bank and EU remain consistent across the coverage.