The World Bank has said it's approved more than $1 billion in new funding to support rebuilding efforts and infrastructure development in Iraq, Syria, and Lebanon.
Iraq will receive the largest portion, with $930 million allocated to upgrade its railway system, improve trade routes, generate jobs and help shift the economy away from oil dependency.
The investment will support the Iraq Railways Extension and Modernisation Project, which is expected to boost freight transport between the southern Umm Qasr Port on the Persian Gulf and the northern city of Mosul.
“This transition from reconstruction to development can drive growth and job creation,” said Jean-Christophe Carret, the World Bank’s regional director for the Middle East.
In Syria, the Bank has approved a $146 million grant to restore electricity services through repairs to damaged transmission lines and substations. The announcement comes a month after Damascus signed a deal with companies from Qatar, Türkiye and the U.S. for a 5,000-megawatt energy project aimed at rebuilding the power grid.
Meanwhile, Lebanon—still recovering from its 14-month conflict with Israel—has been granted $250 million to rebuild essential infrastructure and restore basic public services.
The funds are part of the World Bank’s broader effort to support stability and recovery in a region struggling with the long-term effects of conflict and economic crisis.
In a move highlighting growing friction between global trade and digital retail, China on Monday issued new guidance for its rapidly expanding e-co...
Iran and the U.S. have received a Pakistan-led ceasefire proposal, which Tehran has said is under review. The offer comes amid heightened tensions ...
Iran’s Permanent Mission to the United Nations in New York has warned that U.S. President Donald Trump’s threat to attack civilian infr...
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, ...
The United Arab Emirates has warned that any settlement between the United States and Iran must guarantee free passage through the Strait of Hormuz...
In a move highlighting growing friction between global trade and digital retail, China on Monday issued new guidance for its rapidly expanding e-commerce sector.
Iran and the U.S. have received a Pakistan-led ceasefire proposal, which Tehran has said is under review. The offer comes amid heightened tensions after Trump’s Hormuz threat and an Iranian missile strike on Israel that killed two people on Sunday. The U.S. has yet to react to the proposal.
Iran’s Permanent Mission to the United Nations in New York has warned that U.S. President Donald Trump’s threat to attack civilian infrastructure risks dragging the region into an “endless war,” calling for immediate action by the world body.
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, potentially reopening the vital Strait of Hormuz, a source familiar with the plan said on Monday.
U.S. President Donald Trump threatened Iran's energy and transport infrastructure in a social media post containing expletives on Sunday (5 April), as he seperately gave Iran a deadline of Tuesday to reopen the Strait of Hormuz.
The crew of Artemis II mission are entering a pivotal phase of their journey, as they prepare to swing around the Moon and head back towards Earth. Now on the fifth day of their 10-day mission, the four astronauts are already witnessing views no human has ever seen.
The family of the late Virginia Giuffre have urged King Charles III to meet survivors of sexual abuse during his upcoming state visit to the United States.
Senegal has taken steps to curb government spending by banning non-essential foreign travel for ministers, as rising global oil prices place increasing pressure on the country’s finances.
India has purchased crude oil from Iran for the first time in seven years, as supply disruptions in the Middle East threaten global energy markets.
In a move highlighting growing friction between global trade and digital retail, China on Monday issued new guidance for its rapidly expanding e-commerce sector.
North Korea's test of a solid-fuel rocket engine is intended for intercontinental ballistic missiles (ICBM) built with carbon fibre to extend range and allow for delivery of heavier and possibly multiple warheads, South Korean lawmakers said on Monday.
Hungarian Prime Minister Viktor Orbán called an emergency defence council on Sunday (5 April) after powerful explosives were discovered near a pipeline in Serbia that carries Russian gas to Hungary.
Russia launched a drone attack on Ukraine's Black Sea port of Odesa overnight on Monday, killing three people, including a child, and damaging infrastructure, residential and administrative buildings, the regional governor said.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 6 April, covering the latest developments you need to know.
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