Lebanon signs World Bank loan agreement for infrastructure reconstruction

BEIRUT, LEBANON | Xinhua | Lebanese Finance Minister Yassine Jaber on Tuesday signed a 250 million U.S.-dollar loan agreement with the World Bank to support reconstruction of infrastructure damaged in recent Israeli attacks, the Finance Ministry said in a statement.

The deal will establish a fund to rebuild essential infrastructure, including roads, power and water systems, schools and hospitals.

Jaber called the agreement “an important first step toward reconstruction,” noting that Lebanon has also received 20 million dollars from Iraq and a pledge of 75 million euros (87 million dollars) from France.

The initial World Bank funding will finance urgent projects over the next 18 to 24 months to help displaced residents return home, reopen institutions and restore basic services.

The agreement will be sent to Lebanon’s parliament in the coming days for final approval. ■