The Israeli war caused damage to infrastructure in Gaza estimated at $18.5 billion, according to a new World Bank report published on Tuesday.

The World Bank noted in its non-final assessment of the damages that the figure represents 97% of the combined economic output of the occupied West Bank and Gaza in the year 2022.

The assessment covers the period between the outbreak of war on October 7 and the end of January.

The report, prepared in cooperation with the United Nations and the European Union, concluded that structural damage was caused to “all sectors of the economy,” and that more than 70% of the estimated costs were due to the destruction of homes.

“In several sectors, the rate of damage appears to be stabilizing, with some assets remaining intact,” the World Bank said.

Beyond structural damage, the report concluded that more than half of Gaza's population is on the brink of famine, and the entire population of the Strip "suffers from severe food insecurity and malnutrition."

It is estimated that 84% of health facilities in Gaza were either damaged or destroyed, while the war displaced 75% of the population, leaving more than a million people without homes.

The report, which was prepared based on sources for collecting remote data, concluded that the water and sanitation networks in Gaza are “almost collapsed” and are operating at less than 5% of their capacity compared to before the outbreak of the war.

100% of Gaza’s children are without schools due to the collapse of the educational system, while 92% of the main roads in the Strip are either destroyed or damaged, according to the World Bank.

The report called for increasing humanitarian and food aid, "providing shelter and finding cost-effective and scalable housing solutions for the displaced, and resuming basic services."