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.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
South Korea and NATO have agreed to set up a new consultative body focused on defence industry cooperation, aiming to deepen collaboration through joint development and procurement initiatives.
The European Commission has proposed a new EU Space Act to create a unified and competitive single market for space services and data, in a move to strengthen Europe’s position in the rapidly growing global space sector.
U.S. chipmaker Nvidia has reclaimed its title as the world’s most valuable company after its shares surged to a record high.
A Japanese space company has blamed a malfunctioning laser range finder for the crash of its moon lander earlier this month, marking the second failed lunar landing attempt for ispace in just over two years.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
South Korea and NATO have agreed to set up a new consultative body focused on defence industry cooperation, aiming to deepen collaboration through joint development and procurement initiatives.
The European Commission has proposed a new EU Space Act to create a unified and competitive single market for space services and data, in a move to strengthen Europe’s position in the rapidly growing global space sector.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
U.S. Homeland Security Secretary Kristi Noem is visiting Central America to strengthen cooperation on curbing drug trafficking and reducing undocumented migration to the U.S., meeting leaders in Panama, Costa Rica, and Honduras.
China hosted defence chiefs from SCO member states in Qingdao, with calls to boost cooperation as global instability rises and conflicts persist in the Middle East.
South Korea and NATO have agreed to set up a new consultative body focused on defence industry cooperation, aiming to deepen collaboration through joint development and procurement initiatives.
U.S. President Donald Trump has demanded that Israeli Prime Minister Benjamin Netanyahu’s corruption trial be cancelled, calling the case a “witch hunt” and suggesting Netanyahu should be pardoned.
The fragile ceasefire between Iran and Israel held for a second day on Wednesday, as U.S. President Donald Trump confirmed that American and Iranian officials are expected to engage in talks next week—marking a possible diplomatic shift after nearly two weeks of regional conflict.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
South Korea and NATO have agreed to set up a new consultative body focused on defence industry cooperation, aiming to deepen collaboration through joint development and procurement initiatives.
The European Commission has proposed a new EU Space Act to create a unified and competitive single market for space services and data, in a move to strengthen Europe’s position in the rapidly growing global space sector.
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