World Bank says Lebanon needs $11 bn for post-war reconstruction

BEIRUT, Mar 7: The World Bank on Friday estimated Lebanon's recovery and reconstruction costs at $11 billion following the war between Israel and Hezbollah, which ended with a ceasefire last November.

"Reconstruction and recovery needs following the conflict that affected Lebanon are estimated at US$11 billion," the World Bank said in a report assessing damage and losses from October 8 to December 20, 2024.
The report put the war's total economic cost at $14 billion, including $6.8 billion in damage to physical structures and $7.2 billion in economic losses from reduced productivity, forgone revenues and operating costs.

The Lebanese housing sector was the hardest hit, with losses estimated at $4.6 billion, while the tourism sector lost $3.6 billion. �"AFP