World Bank Announces Syria, Lebanon Reconstruction Projects
The World Bank announced on June 25 it had approved $250 million to support Lebanon's post-war reconstruction and a $146 million grant to rehabilitate neighboring Syria's electricity sector.
Lebanon is reeling from last year's devastating war between Israel and Hezbollah, while Syria faces massive needs after Islamist-led forces toppled longtime ruler Bashar al-Assad in December 2024.
"The World Bank Board of Executive Directors approved yesterday a $250 million financing to Lebanon to support the most urgent repair and reconstruction of damaged critical public infrastructure and lifeline services, and the sustainable management of rubble in conflict-affected areas," it said in a statement.
The bank had previously estimated the costs of post-war reconstruction and recovery in Lebanon at around $11 billion.
Jean-Christophe Carret, the World Bank Middle East Department's division director, said that "given Lebanon's large reconstruction needs, the [project] is structured as a $1 billion scalable framework with an initial $250 million contribution from the World Bank.”
In a separate statement, the World Bank said it had approved a $146 million grant to Syria from the International Development Association "to help restore reliable, affordable electricity and support the country's economic recovery.”
The grant will finance the rehabilitation of high-voltage transmission lines and transformer substations damaged during the civil war, and the acquisition of spare parts and maintenance equipment, according to the statement.
Source: HDN
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