The European Union and partners pledged nearly €1 billion to rebuild Gaza and support a modern Palestinian Authority.

Omissions

• The EU's own official figure is 'nearly €900 million' (€883.6 million), not €1 billion; the MEP rounded the euro amount up by roughly 10-12%. The '$1 billion' headline figure corresponds to the US-dollar equivalent, not to euros.
• The claim bundles two elements — Gaza reconstruction and support for a 'modern Palestinian Authority' — but the Team Gaza Initiative figure concerns Gaza early recovery; PA support is a separate line of EU funding.
• No single source explicitly states 'nearly €1 billion in euros'; the euro figure published is €883.6 million / nearly €900 million.

Sources

• PrimaryEuropean Commission – EU launches a Team Gaza Initiative (DG for North Africa, Middle East and Gulf)EU launches a Team Gaza Initiative to support early recovery in Gaza with an initial amount of nearly €900 million.
• Secondaryi24NEWS – EU Launches $1 Billion 'Team Gaza Initiative' For Early Recoverybringing together 883.6 million euros ($1b) in financial contributions to support early recovery
• SecondaryCourthouse News Service – EU rallies $1 billion in pledges for Gaza's recoveryThe European Union has coordinated efforts to raise 900 million euros ($1 billion) in pledges of aid for Gaza's rebuilding following two years
• SecondaryAl Jazeera – EU unveils $1bn fund for Gaza war recoveryThe European Commission has announced a billion-dollar aid and reconstruction fund aimed at helping the recovery of Gaza from more than two
• SecondaryThe Parliament Magazine – Europe has the money. Now Gaza needs the politicsThe EU unveiled nearly €900 million in new support for Gaza and launched the Team Gaza Initiative, but money alone won't rebuild the enclave.