The World Bank has unveiled a $1 billion program to support Lebanon's reconstruction efforts amid ongoing economic challenges, according to a statement from the Lebanese prime minister's office on Wednesday. The initiative aims to address critical infrastructure gaps, revitalize key industries, and stabilize public services in the crisis-hit nation.
Lebanon's economy has faced severe strain since 2019, with currency collapse and political instability exacerbating poverty rates. The new funding is expected to focus on energy sector reforms, healthcare system upgrades, and job creation programs. World Bank representatives emphasized the need for 'transparent implementation' to ensure resources reach communities most affected by the downturn.
Business analysts note the program could create opportunities in construction, renewable energy, and technology sectors, while diaspora communities express hope for improved conditions to support family networks. The Lebanese prime minister's office stated the plan would 'prioritize sustainable development aligned with global climate goals.'
This marks the World Bank's largest single commitment to Lebanon since the 2020 Beirut port explosion, signaling renewed international engagement with the Mediterranean nation's recovery efforts.
