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.
On Thursday, Russian Foreign Ministry spokeswoman Maria Zakharova dismissed the allegations that Russia was responsible for jamming European Commissio...
A series of lightning-induced wildfires swept through parts of two Northern California counties on Wednesday, prompting widespread evacuations and eng...
Egypt and Sudan on Wednesday described Ethiopia’s Nile River dam as a “threat” to their countries, citing serious consequences for water securit...
U.S. Secretary of Health and Human Services, Robert F. Kennedy Jr., has appointed seven new members to the Centers for Disease Control and Prevention'...
Guyana's ruling People's Progressive Party (PPP) secured more than double the votes of its closest competitor in the country's general election, posit...
On Thursday, Russian Foreign Ministry spokeswoman Maria Zakharova dismissed the allegations that Russia was responsible for jamming European Commission President Ursula von der Leyen's aircraft, labelling them as fake and a product of paranoia.
A series of lightning-induced wildfires swept through parts of two Northern California counties on Wednesday, prompting widespread evacuations and engulfing sections of a historic Gold Rush mining town that once housed thousands of Chinese immigrants.
Egypt and Sudan on Wednesday described Ethiopia’s Nile River dam as a “threat” to their countries, citing serious consequences for water security and regional stability.
U.S. Secretary of Health and Human Services, Robert F. Kennedy Jr., has appointed seven new members to the Centers for Disease Control and Prevention's (CDC) vaccine expert panel, according to an internal CDC document released on Wednesday.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A popular funicular railway car in Lisbon, the Gloria, derailed and crashed on Wednesday, killing at least 15 people and injuring 18 others.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
On Thursday, Russian Foreign Ministry spokeswoman Maria Zakharova dismissed the allegations that Russia was responsible for jamming European Commission President Ursula von der Leyen's aircraft, labelling them as fake and a product of paranoia.
A series of lightning-induced wildfires swept through parts of two Northern California counties on Wednesday, prompting widespread evacuations and engulfing sections of a historic Gold Rush mining town that once housed thousands of Chinese immigrants.
Egypt and Sudan on Wednesday described Ethiopia’s Nile River dam as a “threat” to their countries, citing serious consequences for water security and regional stability.
U.S. Secretary of Health and Human Services, Robert F. Kennedy Jr., has appointed seven new members to the Centers for Disease Control and Prevention's (CDC) vaccine expert panel, according to an internal CDC document released on Wednesday.
Guyana's ruling People's Progressive Party (PPP) secured more than double the votes of its closest competitor in the country's general election, positioning it for a parliamentary majority and another term for President Irfaan Ali.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment