The UAE supported a maritime humanitarian corridor in March 2024, and Saudi Arabia stated political conditions for diplomatic relations with Israel. Neither statement established a reconstruction fund, named a recipient authority, or set contributions and disbursement rules. Gaza’s recovery needs a separate, transparent financing agreement.
What the UAE backed
On March 8, 2024, the UAE joined Cyprus, the European Commission, the United States, the United Kingdom and other governments in announcing the Amalthea maritime mechanism. The joint statement said the UAE would mobilize support and that the initial shipment would carry food. It described the sea route as a supplement to land and air routes, coordinated with the UN coordinator and Israel. Read the governments’ joint corridor statement.
That was a humanitarian delivery initiative. It did not assign the UAE responsibility for Gaza’s civil administration or promise to finance large-scale rebuilding. The distinction matters because aid shipments and reconstruction grants have different budgets, recipients and oversight.
Saudi Arabia’s stated diplomatic condition
On February 7, 2024, Saudi Arabia’s foreign ministry said there would be no diplomatic relations with Israel unless an independent state was recognized on the 1967 lines with eastern Jerusalem as its capital, and Israeli forces withdrew from Gaza. The statement addressed diplomatic relations and a political agreement. It did not specify a reconstruction pledge. The Saudi foreign ministry statement sets out those terms.
What a reconstruction fund needs
The World Bank and UN put physical damage at about $18.5 billion through January 2024, in a preliminary assessment based on remote data. A full recovery estimate would also include economic and social losses and financing needs. The World Bank release explains the scope and limits of that figure.
A workable package therefore needs named contributors, a public budget, a recipient authority, procurement controls, independent audits and safeguards against Hamas taking over funds or materials. Israel’s February proposal said rebuilding would be financed and led by countries acceptable to Israel, but did not create a financing mechanism. Read also who could govern.