McKinsey partners back international coalition to rebuild Palestine

23 May 2024 2 min. read

How could anyone be thinking of reconstruction while war is still raging in Gaza? Despite the current situation, planning for the day after is essential, according to the authors of a report on the prospect of attracting investors to a rebuilt Gaza under a revitalized Palestinian leadership.

The so-called ‘Palestine Emerging’ initiative is the brainchild of the Palestinian Reconstruction and Economic Partnership (PREP), a cooperative private sector initiative focused on the economic reconstruction and development of Gaza and the West Bank.

Over 60 leaders from around the world have committed their support to Palestine Emerging, with experts coming from a wide range of businesses, society groups, technical organizations, academic and funding institutions.

McKinsey partners back international coalition to rebuild Palestine

Among the group are two McKinsey & Company partners, Eric Hazan (senior partner in France and David Meredith (partner in London), though it is important to note they are involved in a personal capacity and not in the name of their company.

The two partners recently attended an event of the pro-bono coalition held in London to discuss preliminary plans for the reconstruction and long-term future development of the battered enclave.

Having joined McKinsey’s Paris office in 2007, Eric Hazan was previously associate director of the marketing and sales practice for Europe. He is also a board member of the McKinsey Global Institute.

David Meredith is an expert in health systems and hospitals, with a particular interest in hospital mergers. Before joining the strategy consulting firm in 2004, he managed the finances of a non-profit organization in the United States.

Some of the other members include senior officials from American and European economic development agencies, as well as managers of Middle Eastern companies. Also present was Hashim Shawa, president of the Bank of Palestine.

The plan devised by the group addresses major issues like food security, an assessment of the conditions of buildings, implementation of temporary accommodation, and covering basic needs for Gazan civilians in the interim.

The general aim is to elevate Gaza – and the West Bank with it – to a regional economic and development hub on par with other successful parts of the MENA region. That will, of course, not come about without first facing major difficulties – and before anything else, Israel and Palestine must reach a political resolution.

Israel has been bombarding the Gaza Strip with thousands of tons of munitions in retaliation for Hamas’ attack on October 7, which took the lives of around 1,200 Israelis. After 7 months of war, the death toll in Gaza is currently at over 30,000 and the majority of buildings in the enclave have been destroyed.