The European Union executive will pledge 436 million euros ($552.6 million) of aid to Palestinians next month to help post-conflict recovery in Gaza and economic reform, the European Commission said on Friday.

The pledge, which will be made at a March 2 international donors conference at Sharm el-Sheikh in Egypt, would compare with 487 million euros of aid last year, an EU official said.

The money will be dedicated to humanitarian aid and early recovery of the Gaza Strip after Israel's three-week offensive at the start of the year, the Commission said in a statement.

Funds would also go to supporting the Palestinian Authority in implementing reforms and refugee programmes.

"Our priority today is to adequately respond to the disastrous humanitarian situation in Gaza," EU External Relations Commissioner Benita Ferrero-Waldner said.

Parts of the assistance would be spent on removing unexploded ordnance and rubble, helping traumatised children, funding work schemes and providing shelter, she said.

Ferrero-Waldner stressed that access to Gaza, which is under an Israeli blockade, was the most crucial issue. The priority remained the immediate and unconditional reopening of all Gaza crossings to allow the flow of humanitarian and commercial goods as well as people.

The Palestinian Authority is seeking a total of $2.78 billion in aid from donors at the conference in Egypt.