World Bank Approves USD 250 Mln For Lebanon Recovery, Reconstruction

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, June 25 (KUNA) -- The World Bank approved a USD 250 million financing to Lebanon to support the most urgent repair and reconstruction of damaged critical public infrastructure and lifeline services, and the sustainable management of rubble in conflict-affected areas.
The "Lebanon Emergency Assistance Project (LEAP)" will prioritize and sequence interventions to maximize economic and social impact within the shortest timeframe and provide a phased approach to response, recovery and reconstruction, the World Bank (WB) said in a press release.
The Rapid Damage and Needs Assessment (RDNA) of the impact of the conflict in Lebanon between October 8, 2023, and December 20, 2024, estimated total direct damages across 10 sectors at USD 7.2 billion, and reconstruction and recovery needs at USD 11 billion, it said.
Damage to critical infrastructure and buildings that are critical to economic activity and to the health and safety of communities was estimated at USD 1.1 billion across the transport, water, energy, municipal services, education and health care sectors, it said.
"Given Lebanonآ's large reconstruction needs, the LEAP is structured as a USD 1 billion scalable framework with an initial USD 250 million contribution from the World Bank and the ability to efficiently absorb additional financing, whether grants or loans, under a unified, government-led implementation structure that emphasizes transparency, accountability, and results," said Jean-Christophe Carret, World Bank Middle East Division Director.
"This framework offers a credible vehicle for development partners to align their support, alongside continued progress on the Governmentآ's reform agenda, and maximize collective impact in support of Lebanonآ's recovery and long-term reconstruction," he added.
The WB financing will support immediate response activities required to accelerate recovery and create the conditions that favor a return to normality, including the safe and well-planned management of rubble that maximizes the reuse and recycling of rubble, he said.
Critical support will also be provided to the rapid repair and recovery of essential services, such as water, energy, transport, health, education and municipal services. Finally, the LEAP framework will also support the reconstruction of severely damaged infrastructure, starting with designs and environment and social assessments financed through WB initial financing, he noted.
The LEAP will be implemented under the strategic guidance of the Prime Minister Office, with coordination across line ministries at the level of the Council of Ministers, Carret remarked.
The Ministry of Public Works and Transport will have overall leadership and responsibility for Project execution, and the Ministry of Environment will provide oversight for environmental and social requirements, including for rubble management, he pointed out.
In addition, the World Bank will support LEAP with enhanced implementation and supervision support measures with the recruitment of an international lenderآ's engineering firm to conduct enhanced compliance due diligence across the entire framework, the WB official remarked.
This will include oversight of technical, environmental and social, fiduciary aspects and Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) detection, he added.
This mechanism will help ensure LEAP is executed with the highest standards of compliance, integrity and effectiveness, Carret concluded. (end)
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