Lebanon Secures $1 Bln Fund for Reconstruction

Lebanon has taken a major step toward reconstruction with a preliminary $1 billion fund backed by the World Bank.

Lebanese Finance Minister Yassin Jaber confirmed the initiative during a meeting with World Bank Vice President Ousmane Dione and Regional Director Jean-Christophe Carret.

The government is working to expedite necessary reforms to secure approval from both the Cabinet and Parliament.

The fund, known as the Lebanon Emergency Assistance Program (LEAP), will receive $250 million from the World Bank, with additional contributions from international donors and Lebanon’s allies.

The initiative focuses on key sectors such as public finance management, water, energy, and agriculture.

Transparency and accountability remain central to discussions, as the World Bank aims to collaborate closely with Lebanese officials to ensure effective implementation.

Meanwhile, Lebanon continues to face economic and security challenges. The Israeli military launched an airstrike on a Hezbollah observation post in southern Lebanon, citing a violation of ceasefire agreements.

Additionally, UNICEF reported severe funding shortages due to reduced U.S. aid, forcing the organization to suspend or scale back critical programs.

The crisis has left over half of Lebanon’s children under two suffering from extreme food poverty, particularly in the Bekaa and Baalbek regions, which have also endured repeated Israeli airstrikes.