Against the backdrop of the May 2021 hostilities and the worsening socio-economic conditions, UNDP’s approach in supporting the people of Gaza has been to assess and address urgent priority needs, immediately following the ceasefire, while taking into consideration and building in measures for medium - to longer - term recovery. The assessment focused on the latest hostilities’ impact on the private sector across key sectors of Gaza’s economy, namely manufacturing, trade (wholesale and retail), services, as well as on private ICT facilities. It covered the overall impact of the May 2021 hostilities, consisting of damages in terms of buildings, infrastructure, machinery, and office equipment, as well as losses of raw materials, goods, and finished products. the assessment found that the total value of losses across the four targeted economic sectors amounts to US$ 13,174,819, or 40.7% of the total value of impact. Most losses were incurred by goods and finished products, which account for 77.7% of total losses, followed by losses in raw materials (22.3% of total losses).