World Bank Reallocates $250 Million to Provide Emergency Aid to Lebanon

The World Bank announced on Thursday that it has allocated $250 million in aid to Lebanon, originally planned to be used to develop renewable energy, to provide emergency assistance to those displaced by heavy Israeli airstrikes.

"The World Bank has activated its emergency response plan to allocate existing resources in the Lebanon portfolio to meet the urgent needs of the population," the Washington-based financial institution said in a statement.

The emergency assistance "will be provided in close coordination with our development and humanitarian partners," it added.

The program was initially intended to strengthen Lebanon's electricity grid by making it more independent using renewable energy.

According to Lebanese authorities, 1.2 million people have been displaced in Lebanon since the intense bombardment began last week. More than 2,000 people have been killed since the escalation between Israel and Hezbollah began last year, including more than 1,000 since September 23.