In a press statement issued on Tuesday, Saudi Arabia announced the donation of a package of financial aid to the "people of Gaza" worth $80 million.
Ahmed bin Abdul-Aziz Kattan, Saudi ambassador to Egypt and permanent representative to the Arab League, said that Riyadh had transferred more than $53 million to the bank account of the Palestine Red Crescent Society to help with purchases of local medical material and foodstuffs to Gazans.
In addition, Kattab said the Gulf kingdom provided the Palestinian Health Ministry with roughly $27 million in view of the escalating violence in Gaza Strip and the difficulties faced by the ministry to "overcome the burden of providing ambulance services and the shortage of medical supplies."
Officials in Gaza say the Israeli offensive - which began on 8 July - led to the death of 1,834 Palestinians, most of whom are civilians.
Israel and Hamas-led Palestinian factions entered a 72-hour truce on Tuesday mediated by Egypt to push for negotiations over ending the month-old Gaza war.