Latest news with #LebanonRapidDamageandNeedsAssessment
Asharq Al-Awsat
12-03-2025
- Business
- Asharq Al-Awsat
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.
Zawya
10-03-2025
- Business
- Zawya
World Bank estimates Lebanon's recovery and reconstruction needs at $11bln
Washington: Reconstruction and recovery needs following the conflict that affected Lebanon are estimated at USD 11 billion, according to a Lebanon Rapid Damage and Needs Assessment (RDNA) 2025report released by the World Bank that assesses damage, losses, and needs in ten sectors across the entire country, covering the period from October 8, 2023 until December 20, 2024. Of the USD1 1 billion in reconstruction and recovery needs, the report estimates that USD 3 to 5 billion will need to be publicly financed, including USD 1 billion for the infrastructure sectors (energy; municipal and public services; transport; and water, wastewater and irrigation). While USD 6 to 8 billion will require private financing, mostly in the housing, commerce, industry, and tourism sectors. The Lebanon RDNA was conducted in response to a request from the Government of Lebanon to assess the impact across ten key sectors: Agriculture and Food Security; Commerce, Industry, and Tourism; Education; Environment and Debris Management; Energy; Health; Housing; Municipal and Public Services; Transport; and Water, Wastewater, and Irrigation, said the World Bank today. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Daily Tribune
08-03-2025
- Business
- Daily Tribune
World Bank Estimates Lebanon Requires $11 Billion for Economic Recovery After Conflict
Lebanon will need approximately $11 billion to recover economically and rebuild following its recent conflict with Israel, according to a report issued on Friday by the Lebanon Rapid Damage and Needs Assessment (RDNA) 2025. The report outlines that public funding will be required for $3 billion to $5 billion of the total recovery costs, including $1 billion dedicated to the repair and improvement of critical infrastructure sectors such as electricity, transportation, municipal services, and water management. Private sector investments are expected to cover an additional $6 billion to $8 billion, primarily for rebuilding housing, businesses, manufacturing, and the tourism industry. The World Bank's assessment also estimates the total economic toll of the conflict at $14 billion, which includes $6.8 billion in direct physical damage and $7.2 billion in economic losses resulting from reduced productivity, lost revenue, and operational disruptions. "Housing has suffered the most significant damage, with an estimated $4.6 billion in losses," the report stated, also noting that the commercial, industrial, and tourism sectors collectively endured $3.4 billion in damages across the country. Lebanon's GDP was severely impacted, experiencing a 7.1% decline in 2024, a sharp reversal from the modest 0.9% growth recorded before the conflict. "The cumulative decline in Lebanon's GDP since 2019 has approached 40%, compounding the effects of a broad economic downturn and further hindering the country's growth prospects," the report highlighted. Following months of cross-border fighting between Israel and Hezbollah, which escalated into full-scale conflict in September, a fragile ceasefire has held since November 27. However, Lebanese authorities have recorded nearly 1,100 ceasefire violations by Israel, resulting in at least 84 deaths and over 280 injuries.
The Independent
07-03-2025
- Business
- The Independent
World Bank estimates $11B needed to rebuild Lebanon after Israel-Hezbollah war
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 report on Friday. The report by the World Bank's Lebanon Rapid Damage and Needs Assessment covered damage and losses in 10 sectors nationwide between Oct. 8, 2023, and Dec. 20, 2024. It estimates that of the $11 billion in reconstruction and recovery needs, $3 billion to $5 billion will need to be publicly financed, including for infrastructure sectors. Private financing is required for about $6 billion to $8 billion of the costs, mostly in the housing, commerce, industry and tourism sectors. Hezbollah began firing rockets across the border on Oct. 8, 2023, one day after a deadly Hamas-led incursion into southern Israel that sparked the war in Gaza. Israel responded with shelling and airstrikes in Lebanon, and the two sides became locked in an escalating conflict that became a full-blown war in late September. A U.S.-brokered ceasefire went into effect in late November. The Lebanese army said Friday that the Israeli military escorted Israeli civilians into Lebanese territory to visit a Jewish shrine near the village of Houla without permission from Lebanese authorities and in violation of the ceasefire agreement. The army statement said the incident 'represents a blatant violation of Lebanese national sovereignty' and of the ceasefire agreement under which Israel was supposed to withdraw its forces from all Lebanese territory last month. The Israeli military withdrew from border villages, but stayed in five strategic overlook locations inside Lebanon. Lebanese leaders have denounced the continued presence of the Israeli troops as an occupation and a violation of the deal. The Israeli military did not immediately response to a request for comment. Israel's army radio published video Friday showing gaggles of ultra-Orthodox Jews flocking to the tomb where Rabbi Ashi, a Babylonian Jewish rabbi, is believed to be buried. It reported that the military escorted hundreds of worshippers to the site for morning prayers. The U.N. peacekeeping force in southern Lebanon, known as UNIFIL, said in a statement that peacekeepers' view of the tomb was obscured by a screen erected by the Israeli military, but that 'it appears that Israeli civilians crossed the Blue Line around the tomb' and later left. 'Any unauthorized crossing of the Blue Line is a violation of resolution 1701,' the statement said, referring to the U.N. Security Council resolution that ended a monthlong war between Hezbollah and Israel in 2006. 'UNIFIL urges all actors to avoid any action that could upset the current delicate stability." The World Bank report said the economic cost of the conflict on Lebanon totals $14 billion, with damage to physical structures amounting to $6.8 billion and economic losses from reduced productivity, foregone revenues and operating costs reaching $7.2 billion. Housing has been the hardest-hit sector with damages estimated at $4.6 billion. The report found that the conflict resulted in Lebanon's real gross domestic product contracting by 7.1% in 2024, a significant setback compared to a projected 0.9% growth had the war not happened. By the end of 2024, Lebanon's cumulative GDP decline since 2019 approached 40%. Over 4,000 people in Lebanon were killed in the war, which displaced hundreds of thousands and caused widespread destruction in the nation. Lebanon's state-run National News Agency reported Friday evening that Israel launched a 'large-scale air aggression' targeting sites in southern Lebanon with about 20 airstrikes. The Israeli military said it struck sites 'in which weapons and rocket launchers belonging to Hezbollah were identified.'
Asharq Al-Awsat
07-03-2025
- Business
- Asharq Al-Awsat
World Bank Estimates $11 Billion Needed for Reconstruction in Lebanon
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. The World Bank report estimated that of the $11 billion in reconstruction and recovery needs, $3 to $5 billion will need to be publicly financed, including for infrastructure sectors. It added that private financing is required for about $6 to $8 billion of the costs, mostly in the housing, commerce, industry, and tourism sectors. The report said the economic cost of the conflict on Lebanon totals $14 billion, with damage to physical structures amounting to $6.8 billion and economic losses from reduced productivity, foregone revenues, and operating costs reaching $7.2 billion. Housing has been the hardest-hit sector with damages estimated at $4.6 billion. The report found that the conflict resulted in Lebanon's real gross domestic product contracting by 7.1% in 2024, a significant setback compared to a projected growth of 0.9 percent had the war not happened. By the end of 2024, Lebanon's cumulative GDP decline since 2019 had approached 40 percent.
