JEDDAH: Lebanon’s battered infrastructure and strained public services are set for a boost, as the World Bank has approved $250 million to launch a broader $1 billion recovery and reconstruction initiative.
In a statement on Wednesday, the World Bank announced that its board of executive directors had approved the funding a day earlier under the Lebanon Emergency Assistance Project.
The project follows a phased approach to address response, recovery, and reconstruction, focusing on prioritizing and sequencing interventions to achieve maximum economic and social impact in the shortest possible time.
“The Rapid Damage and Needs Assessment of the impact of the conflict in Lebanon between Oct. 8, 2023, and Dec. 20, 2024, estimated total direct damages across 10 sectors at $7.2 billion, and reconstruction and recovery needs at $11 billion,” the bank said in its press release.
It added that around $1.1 billion in damage had been sustained by key infrastructure and facilities vital to public well-being and economic activity. Affected sectors include transportation, energy, water, healthcare, education, and municipal services.
