Gaza City, October 28 (RHC)-- The World Bank plans to allocate USD $63 million in emergency aid to the besieged Gaza Strip, which has witnessed heavy destruction due to a recent Israeli war.

The financial aid is expected to be approved on October 30th, Inger Andersen, the World Bank's vice president for the Middle East and North Africa, said in an interview with Palestine's Ma'an news agency.

The aid will be used for fixing the infrastructure in Gaza damaged during the recent 50-day Israeli military attack on the Palestinian enclave. The money is also planned to help the Palestinian Authority settle its debts and recover its losses.

"We're rushing through four emergency projects right now," Andersen said, adding: "We are trying very much to respond to this crisis and respond quickly enough." Financial experts estimate that it would cost over USD $7 billion to rebuild the Gaza Strip.

On September 23rd, Rami Hamdallah, the prime minister of the Palestinian national unity government, called for the international community to donate USD $3.8 billion in aid to reconstruct Gaza.