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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U.S. and Ukrainian negotiators have discussed an ambitious goal of reaching a peace agreement between Russia and Ukraine by March, though the timeline is widely viewed as unrealistic due to deep disagreements over territory, according to multiple sources familiar with the talks.
At least 31 killed, scores wounded in suicide attack on religious site in Islamabad.
Lebanese Army Commander Gen. Rodolphe Haykal met with senior U.S. officials in Washington, D.C., this week to discuss strengthening military and security cooperation, regional developments and the challenges facing Lebanon, the Lebanese army said on Friday.
Storm Leonardo has swept across the Iberian Peninsula, causing widespread flooding, landslides and transport disruption in Portugal and Spain, leaving at least one person dead and forcing thousands to evacuate as authorities issued urgent warnings.
Iran’s Islamic Revolutionary Guard Corps (IRGC) has deployed one of its largest ballistic missiles at a newly unveiled underground base on Wednesday (3 February), just two days ahead of mediated nuclear talks with the United States in Muscat, Oman.
Winter weather has brought air travel in the German capital to a complete halt, stranding thousands of passengers as severe icing conditions make runways and aircraft unsafe for operation and force authorities to shut down one of Europe’s key transport hubs.
Storm Leonardo has swept across the Iberian Peninsula, causing widespread flooding, landslides and transport disruption in Portugal and Spain, leaving at least one person dead and forcing thousands to evacuate as authorities issued urgent warnings.
Israeli tank shelling and airstrikes killed 24 Palestinians including seven children in Gaza on Wednesday (4 February), health officials said, the latest violence to undermine the nearly four-month-old ceasefire.
An attacker opened fire at the gates of a Shi'ite Muslim mosque in Islamabad on Friday before detonating a suicide bomb that killed at least 31 people in the deadliest assault of its kind in the capital in more than ten years.
U.S. and Ukrainian negotiators have discussed an ambitious goal of reaching a peace agreement between Russia and Ukraine by March, though the timeline is widely viewed as unrealistic due to deep disagreements over territory, according to multiple sources familiar with the talks.
At least 31 killed, scores wounded in suicide attack on religious site in Islamabad.
Lebanese Army Commander Gen. Rodolphe Haykal met with senior U.S. officials in Washington, D.C., this week to discuss strengthening military and security cooperation, regional developments and the challenges facing Lebanon, the Lebanese army said on Friday.
Escalating clashes in South Kivu’s highlands are sending a rising flow of wounded to Fizi’s small general hospital, where staff warn they are running out of space and supplies as the conflict expands across remote areas.
Storm Leonardo has swept across the Iberian Peninsula, causing widespread flooding, landslides and transport disruption in Portugal and Spain, leaving at least one person dead and forcing thousands to evacuate as authorities issued urgent warnings.
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