A child inside a vehicle in Khan Younis as wounded and sick Palestinians prepare to leave the Gaza Strip through the Rafah crossing for medical treatment abroad. EPA
A child inside a vehicle in Khan Younis as wounded and sick Palestinians prepare to leave the Gaza Strip through the Rafah crossing for medical treatment abroad. EPA
A child inside a vehicle in Khan Younis as wounded and sick Palestinians prepare to leave the Gaza Strip through the Rafah crossing for medical treatment abroad. EPA
A child inside a vehicle in Khan Younis as wounded and sick Palestinians prepare to leave the Gaza Strip through the Rafah crossing for medical treatment abroad. EPA

Palestinians leave Gaza under EU supervision on ‘one-way’ journey


Sunniva Rose
  • English
  • Arabic

Hundreds of Palestinians who have crossed with EU supervision from Gaza into Egypt through the Rafah border crossing in the past week are on a "one-way" journey, uncertain of their chances of ever returning, a European official has said.

The issue of return is highly sensitive for Palestinians amid renewed controversy caused by comments made by US President Donald Trump about expelling Gazans - a position supported by Israel and considered by most of the world to be in breach of international law.

Return is "not part of the deal at the moment," the EU official told reporters in Brussels. "Nobody goes back. We open the gate. Then there is only a one-way street. Those that go out, they are out of the Gaza strip," they said, speaking anonymously to discuss the sensitive topic more freely.

The right to return to their homeland is a demand deeply entrenched among Palestinians, 700,000 of whom were forced to flee during the 1948 Arab-Israel war that led to the foundation of Israel. But it is also firmly rejected by Israel. Its army chief of staff Herzi Halevi said last week that Gazans leaving through the Rafah border crossing would not be able to return.

Roughly 60 per cent of Gaza’s infrastructure has been destroyed after more than a year of war that has killed more than 47,500 Palestinians. The Israeli army launched its offensive after a Hamas-led attack on southern Israel on October 7, 2023, killed about 1,200 people. A fragile ceasefire came into effect on January 19.

'Honest broker'

The recent relaunch of the EU Border Assistance Mission (Eubam) in Rafah has enabled the evacuation of hundreds of sick and wounded Gazans to Egypt, although doctors say that thousands more need urgent treatment outside the enclave. They are allowed to travel with a limited number of relatives. "Eubam is seen by all parties as an honest broker," the EU official said.

The mission, which was launched in 2005 to train border personnel affiliated to the western-backed Palestinian Authority, was suspended two years later following Hamas's take-over of the strip. Its redeployment on January 31 is part of the EU's contribution to the continuing ceasefire, along with a recent humanitarian aid package for Gaza worth €120 million.

"Most of all, we build confidence with those at the border," the EU official said. The three parties involved include the Israeli army, Egypt, and the Palestinian Authority.

Facial recognition cameras

About 25 PA officials work on a rotating basis at the border, inspecting travellers and their luggage. Passage is negotiated in advance between Israel, Hamas and Egypt - a process in which the EU has no input. The PA border force, which consists of Gazans, works on the basis of lists of names provided by the parties and is supervised by six to eight Eubam Rafah employees of various EU nationalities.

The EU is the biggest donor to the PA, providing support for salaries and pensions in the West Bank. The bloc has been advocating for a return of PA administrators to the Gaza Strip, including through the stationing of some of its members at the Rafah border crossing point. They were chosen from those who stayed in Gaza post-2007.

About 20 gendarmes from Italy, Spain and France are deployed on the ground to oversee the mission's security. The Israeli army is not present in the crossing's immediate vicinity, although Gazans are screened through Israeli facial recognition cameras before arriving at Rafah border crossing.

So far, there have been no incidents. Only a handful of Gazans have been turned back, mostly due to clerical errors. "Everybody who is part of this conflict gains something out of it [the mission]. Nobody is excluded by this operation," added the official.

Israel seized the Rafah border crossing during the war and recently rebuilt it in a matter of weeks after it was reduced to rubble by the conflict.

The European mission appears set to continue throughout the coming stages of the ceasefire.

Ultimately, it will be upheld as long as there is a political will on the part of the EU's 27 member states, the EU official said.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: February 09, 2025, 7:07 AM