Madbouly sees the reconstruction of Gaza taking three years

The reconstruction of Gaza can be completed in three years, Prime Minister Moustafa Madbouly said during his weekly presser yesterday (watch, runtime: 35:05). Egyptian universities and consulting firms will take part in preparing the plan for rebuilding and local, Arab, and global firms could help rebuild Gaza, he said.

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The price tag? While Madbouly didn’t disclose the cost of rebuilding Gaza, earlier this month, Talaat Moustafa Group CEO Hisham Talaat Moustafa proposed a USD 27 bn plan to rebuild Gaza. And a Reuters report out earlier this week put the price tag at some USD 20 bn.

Remember: Last week Egypt said it will propose “a comprehensive vision for the reconstruction of the Gaza Strip in a manner that ensures the Palestinian people remain in their homeland and aligns with their legitimate and legal rights.” Egypt has already begun clearing rubble and rebuilding infrastructure in Gaza, with heavy equipment working to open roads for aid entry.

“From a technical and engineering perspective, we possess the capabilities needed to restore Gaza … within three years. Companies today — whether Egyptian, Arab, or those from countries in our region or the Islamic world — have the expertise and capabilities. If they join forces, they can carry out the reconstruction process within the estimated timeframe,” Madbouly said.

EGYPT, SPAIN INK STRATEGIC PARTNERSHIP

President Abdel Fattah El Sisi wrapped up his state visit to Spain with the signing of a strategic partnership between the two countries, alongside Spanish Prime Minister Pedro Sánchez, according to an Ittihadeya statement. The two leaders were also in the presence of the signing of several MoUs in various fields.

“Our shared objective is to forge deeper economic and investment collaboration,” El Sisi said during a press conference at the tail end of his official state visit to the Spanish capital Madrid. The president name checked renewables, transport, CIT, and water management as sectors where Egypt wanted to cooperate with Spanish companies.

Gaza was also a prominent topic of discussion, with Sánchez expressing Spain's full agreement with Egypt's stance against the forced displacement of Palestinians. The Spanish PM further revealed its support for the upcoming Arab League summit in Egypt, recently delayed to 4 March, which is set to focus on Gaza's reconstruction and ensuring Palestinians remain on their land.

ALSO DURING EL SISI’S TIME IN SPAIN- El Sisi met with Spanish King Felipe VI — the two touched on boosting cooperation between the two nations, Gaza and the need to begin reconstruction operations, as well as Egypt’s role in regional stability.

AND- El Sisi also met with representatives from Spanish companies and leaders in the Spanish business community, who he encouraged to increase their investments in Egypt. He expressed Egypt’s readiness to look into possible economic partnerships in SMEs, energy, water desalination, agriculture, fertilizers, textiles, and more and pushed the Spanish side to explore potential investments in the Suez Canal Economic Zone, naming green hydrogen, drug manufacturing, and the manufacture of automotives as potential investments.

CIRCLE YOUR CALENDAR- The Egyptian-Spanish Joint Business Council will meet in Cairo later this year during King Felipe’s anticipated visit.

WHERE TO NEXT? El Sisi is reportedly heading to Riyadh today to take part in talks that are expected to set the stage for the Arab League summit.