New Delhi, Feb. 19 -- Amid the immense humanitarian crisis in Gaza following years of devastating conflict, the Board of Peace has taken a concrete financial step forward. Member states have collectively pledged $5 billion to fund urgent humanitarian relief and the beginnings of large-scale reconstruction in the war-torn territory.

The announcement, marked an early milestone in what the group hopes will become a sustained international effort to rebuild lives and infrastructure.

Gaza's reconstruction needs are staggering, with joint estimates from the United Nations, World Bank, and European Union pegging the total cost at around $70 billion due to widespread damage to homes, hospitals, schools, and infrastructure. This $5 billion initi...