Gaza needs billions of dollars in international economic aid to compensate for years of restrictions that have stifled its economy and curbed its development, according to a report published by the United Nations Conference on Trade and Development (UNCTAD), Reuters reports.

The report highlighted the dire economic conditions in Gaza, even prior to Israeli strikes on the enclave in reprisal for the October 7 attacks by Hamas fighters in southern Israel.

“Donors and the international community need to extend significant economic aid to repair the extensive damage Gaza has experienced under prolonged restrictions and closures and frequent military operations, which has stifled the economy and decimated infrastructure,” the report said.

“While donor aid is important to assist the people of Gaza, it should not be viewed as a substitute for ending the restrictions and closures and calling on Israel and all parties to bear their responsibilities under international law,” the report said.

“But it’s going to be in the billions of dollars,” Richard Kozul-Wright, director of UNCTAD said while speaking to reporters in Geneva.