The UN and aid organisations working in the Palestinian territories have asked for additional funding amid a worsening humanitarian crisis in the region.
In November, the UN Office for the Coordination of Humanitarian Affairs asked the international community for $215m in an emergency aid appeal for programs in Gaza and the West Bank.
That figure has now been revised upwards, with OCHA head David Shearer saying an additional $170m will now be necessary as the situation had severely deteriorated.
The additional aid money will be channelled largely into job creation programs, cash and food handouts.
Following Hamas' parliamentary election victory in January, Western countries cut off direct aid to the government and Israel stopped turning over customs duties.
The Palestinian Authority has since been unable to pay salaries to its 160,000 employees or provide many basic services to Palestinians.
In Gaza, only 28% of the workforce has a paying job, according to UN figures and per capita GDP across the Palestinian territories has declined by 27% after three years of moderate growth.
An increasingly severe system of road closures in the West Bank and the frequent closure of crossings in and out of Gaza is further strangling the Palestinian economy.
Rocket attack misses Minister's home
Palestinian militants firing rockets from Gaza came close to hitting the home of Israeli Defence Minister Amir Peretz today.
A house about 100m from Mr Peretz's residence in the town of Sderot was damaged by one of three rockets that Islamic Jihad militants said they fired into southern Israel.
The attack came a day after Israeli commandos, in the first ground raid in Gaza since Israel's pullout last year, killed three members of an Islamic Jihad rocket squad, as well as a policeman who came to their aid.
Israeli gunners pounded northern Gaza with artillery fire in response to the rocket launchings, but no casualties were reported on either side of the frontier.
Earlier, Israel had carried out an air strike near a former training camp in the Tal al-Hawa area on the southern outskirts of Gaza City that used to be run by the Popular Resistance Committees.
