The Organization of Islamic Cooperation (OIC) has adopted an Arab League alternative to rebuild the Gaza Strip at a total expense of $53 billion (approximately 77 trillion won) over five years, foreign media reported on the 8th.

On Oct. 14, 2024 (local time), local Palestinian residents are inspecting the damage from Israeli airstrikes in Deir al-Balah, Central Gaza. /Courtesy of Reuters=Yonhap News

AFP reported that the OIC announced in a statement issued after an emergency foreign ministers' meeting held the previous day in Jeddah, Saudi Arabia, that it will adopt the Arab League's plan for the early recovery and reconstruction of the Gaza Strip.

It added that it urges the international community and international and regional funding agencies to quickly provide the necessary support for the plan.

Earlier, the Arab League held a special summit in Cairo, Egypt, on the 4th and adopted a reconstruction plan for the Gaza Strip prepared by Egypt. Just three days later, the OIC, the largest international organization in the Islamic world composed of 57 countries, also decided to support the proposal.

The Arab League's alternative involves investing a total expense of $53 billion (approximately 77 trillion won) over five years to rebuild the Gaza Strip. The first six months will focus on clearing debris and preparing for reconstruction, while the plan includes building 400,000 dwellings and an airport over four and a half years. Unlike the 'Gaza Plan' previously proposed by President Donald Trump, it allows Palestinian residents to remain.

Major European countries also quickly issued statements of support. The foreign ministers of four countries—Britain, France, Germany, and Italy—released a joint statement, saying, "If implemented, it will quickly and sustainably improve the catastrophic living conditions of Palestinian residents in the Gaza Strip."

Badr Abdelaty, the Egyptian foreign minister, welcomed the OIC's adoption of the alternative, stating, "The next step is for the European Union (EU), Japan, Russia, China, and others to adopt this plan and make it an international initiative." The United States and Israel are reported to have a negative stance on this alternative.