Israel Greenlights $1.3 Billion For Gaza Border Area Development

Israeli lawmakers have approved a significant NIS 5 billion fund aimed at boosting economic, infrastructure, and social development for Gaza border communities. This seven-year recovery plan will primarily aid regions within seven kilometers of the Gaza border, benefiting cities like Ashkelon, Ofakim, and Netivot.

In a significant legislative move, Israeli lawmakers have unanimously sanctioned a NIS 5 billion (USD 1.3 billion) allocation dedicated to economic, infrastructure, and social advancement in communities bordering Gaza.

The comprehensive law received final approval in the Knesset with a decisive 37-0 vote, authorizing a swift seven-year recovery initiative. This plan aims to bolster the Takuma Directorate's efforts in regional development and restoration.

While the majority of the investment is earmarked for communities within seven kilometers from the Gaza demarcation, the law also allocates NIS 1 billion (USD 270 million) for cities beyond direct border proximity affected by conflict, notably including Ashkelon, Ofakim, and Netivot.

(With inputs from agencies.)