Lebanon ink loan deal with World Bank to reconstruct infrastructure
(MENAFN) Lebanon’s finance minister on Tuesday signed a loan agreement worth 250 million U.S. dollars with the World Bank to help rebuild infrastructure damaged during recent Israeli strikes, according to an official statement.
The funding will create a reconstruction fund aimed at restoring vital facilities such as roads, electricity and water networks, schools, and hospitals.
Describing the deal as "an important first step toward reconstruction," the minister highlighted that Lebanon has already obtained 20 million dollars in support from Iraq and a commitment of 75 million euros (87 million dollars) from France.
The World Bank financing will initially cover urgent projects over the next 18 to 24 months, focusing on enabling displaced families to return, reopening public institutions, and reestablishing essential services.
The agreement is expected to be presented to parliament in the coming days for final ratification.
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