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.
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Denmark’s Prime Minister Mette Frederiksen has urged U.S. President Donald Trump to abandon comments suggesting the United States should take over Greenland, calling the idea baseless and unacceptable.
U.S. President Donald Trump said on Sunday (4 January) that the United States could carry out further military action in Venezuela following the capture of President Nicolás Maduro. Speaking to reporters aboard Air Force One, he said Washington now effectively controls the country.
Swiss police have confirmed that all 40 victims of the New Year’s Eve fire at a bar in the mountain resort of Crans-Montana have now been identified, with more than half of those killed being teenagers.
Turkish President Recep Tayyip Erdoğan has warned that the Russia-Ukraine war is now threatening trade in the Black Sea.
Teenagers as young as 14 and 15 years old were among those who died in the bar fire on New Year's Eve that killed 40 people in Switzerland, police said on Sunday.
North Korea fired a ballistic missile into the East Sea, according to South Korea and Japan, as regional diplomacy and security concerns remain in focus.
The United States launched an overnight military operation in Venezuela and captured its long-serving President Nicolás Maduro on Saturday, U.S. President Donald Trump said, pledging to place the country under temporary American control and signalling that U.S. forces could be deployed if necessary.
The UN Security Council will hold an emergency meeting Monday to discuss the U.S. operation in Venezuela.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 5th of January, covering the latest developments you need to know.
Taiwan has reported an unprecedented surge in cyberattacks originating from China, with an average of 2.63 million incidents a day recorded throughout 2025, according to a new government report.
World leaders and organisations have responded strongly to the United States’ military operation in Venezuela that resulted in the capture and departure of President Nicolás Maduro. Many condemn the action as a breach of international law and calling for restraint and peaceful resolution.
U.S. President Donald Trump said on Sunday (4 January) that the United States could carry out further military action in Venezuela following the capture of President Nicolás Maduro. Speaking to reporters aboard Air Force One, he said Washington now effectively controls the country.
Swiss police have confirmed that all 40 victims of the New Year’s Eve fire at a bar in the mountain resort of Crans-Montana have now been identified, with more than half of those killed being teenagers.
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