The World Bank says the Israel-Hamas conflict has caused damage of around $18.5 billion to Gaza’s critical infrastructure, according to a newly published report.

This is equivalent to 97 per cent of the combined economic output of the West Bank and Gaza in 2022, the World Bank said in its interim damage assessment, which covers the period between the onset of the conflict on October 7 and the end of January.

The report, produced with the United Nations and the European Union, found structural damage affected “every sector of the economy,” with more than 70pc of the estimated costs due to the destruction of housing.

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