European Union foreign ministers have voiced their support for a substantial reconstruction initiative aimed at rebuilding the Gaza Strip, which has been significantly affected by ongoing conflict.

The proposed plan, which carries an estimated cost of $53 billion, is designed to be implemented over a five-year period.

A key aspect of the project is its intention to avoid displacing Palestinian residents, who have faced severe humanitarian challenges in the region.

The initiative has garnered backing from various Arab nations, emphasizing a collaborative effort to restore infrastructure and living conditions in Gaza amidst a volatile political landscape.