The World Bank has reportedly supported the United States’ plan for an international body to govern Gaza, saying this would allow it to provide financial resources to the region.
The United Nations Security Council began negotiations on the U.S.’ draft resolution on Thursday. This would include a two-year mandate for an international transitional body to administer Gaza, which would be headed by U.S. President Donald Trump.
“Our engagement in Gaza will require the ability to work with international partners who enjoy the full support of the international community and full authorisation to undertake their efforts,” World Bank President Ajay Banga wrote to the U.S. Ambassador to the U.N. Mike Waltz on Saturday, Reuters reported.
“The proposal to establish an authority, in the current draft the Board of Peace, by the U.N. Security Council with the authorisations set out in the resolution would provide the needed framework for engagement by the Bank.”
The draft resolution calls for the World Bank and other financial institutions to provide resources for Gaza’s redevelopment. Banga reportedly said the World Bank “will be ready on day one” to do so.
The U.N. has estimated that the cost of rebuilding Gaza will be around US$70 billion.
Under the U.S.’ draft resolution, the Board of Peace would establish an international force authorised to guard civilians and demilitarise non-state groups like Hamas in Gaza. The U.S. has said it has support from Middle Eastern nations like Egypt, Saudi Arabia, and Turkey.
The U.S.’ ceasefire plan was announced in October. It also includes the return of Israeli hostages and Palestinian prisoners, the removal of Hamas from Gaza’s government, and “a Trump economic development plan to rebuild and energise Gaza”.
While Israel and Hamas agreed to the ceasefire’s terms, Israel has continued to launch airstrikes on Gaza. Gaza’s health officials have said 241 Palestinians in the area have been killed by the Israeli military since the ceasefire began.
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