World Bank Presents $1 Billion Program for Lebanon Reconstruction
The World Bank has presented a $1 billion program for the reconstruction of Lebanon, the Lebanese prime minister's office said in a statement on Wednesday.
The program would include $250 million as a loan, with the rest of the financing to come from international aid, it added.
The cost of reconstruction and recovery for Lebanon following the 14-month Israel-Hezbollah war is estimated at $11 billion, the World Bank said in a new report Friday.
The war killed over 4,000 people in Lebanon, displaced hundreds of thousands and caused widespread destruction in the nation.
The report by the World Bank's Lebanon Rapid Damage and Needs Assessment covered damage and losses in ten sectors across the country from Oct. 8, 2023 until Dec. 20, 2024.
A US-brokered ceasefire went into effect in late November.
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