World Bank: Israel destroyed about 93 percent of the groups operating in the region after the conflict
According to a World Bank assessment, after 15 months of continuous fighting, the Israeli assault on the Gaza Strip has destroyed around 93% of the banks’ branches there.
The conflict has also destroyed 88% of microfinance institutions, the majority of money exchange businesses, and 8% of insurance firms, according to a World Bank study issued in Jerusalem.
Only three of the 94 ATMs in the Gaza Strip are now in use, the study said, using reliable data from the Palestinian Monetary Authority and the World Bank.
According to the research, the interruption in the financial system makes it difficult for the private sector to continue production, generate jobs, and pay employee wages, while Palestinians in Gaza are having difficulty affording basic necessities like food and medication.
