The Arab League said on Thursday that an international donor conference for the rebuilding of Gaza, set for October 12, aims to amass over USD 5 billion.
According to estimates by the UN relief agency for Palestinians, UNRWA, rebuilding efforts there are said to require around 10 years to be completed, said the Arab League's Assistant Secretary General for Palestinian and Arab land Affairs Mohammed Sabeeh.
Both Egypt and Norway are set to chair the upcoming conference, which will be attended by the Palestinian President Mahmoud Abbas.
Attendees will also include foreign minister representatives of donor and relevant nations, the Arab League and UN chiefs, and representatives of the International Quartet and the European Union.
"There is a huge international responsibility that donor nations and the international community must bear in rebuilding Gaza as soon as possible due to the harsh circumstances the Palestinian people are facing," said Sabeeh.
"Israel's continued attacks have left behind extremely large scale problems in the sectors of health, education, agriculture and industry, with 80 pct of Gaza's factories completely destroyed as a result," he added.
Egypt's success in mediating a ceasefire has made redevelopment possible, whereby the Palestinian national unity government along with the UN will assume responsibilities on coordinating the process and assessing its priorities.
Pointing out the huge food and medicinal capabilities offered by Arab states, he reiterated that the situation remains to be in "grave danger" as there are still thousands of people who are homeless, while thousands have been maimed, particularly children.
The Palestinian national unity government is expected to begin its role immediately following the four-day Muslim Eid celebrations which begin on Saturday.