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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Leaders of the world’s 20 largest economies convened in South Africa on Saturday for a G20 summit notably boycotted by the United States, as members sought to finalise a draft declaration prepared without U.S. involvement — a move a senior White House official condemned as “shameful.”
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 22nd of November, covering the latest developments you need to know.
U.S. officials and lawmakers are alarmed over a meeting last month where Trump administration members met sanctioned Russian envoy Kirill Dmitriev to draft a plan to end the Ukraine conflict, sources say.
Cadillac is gearing up to make its debut in Formula One in 2026, marking a significant milestone in the growing presence of U.S. companies in global sports.
The pilot of an Indian fighter jet performing in the Dubai Air Show has died after the aircraft crashed during an aerial display on Friday.
An Indian Tejas fighter jet crashed in a ball of fire during an aerial display at the Dubai Airshow on Friday (November 21), leaving spectators in shock.
Russian President Vladimir Putin visited the command post of the Russian forces “West” grouping on Thursday (20 November), meeting with Chief of Russia’s General Staff Valery Gerasimov and senior military officials, the Kremlin said.
The full 28-point framework outlining a proposed settlement between Ukraine and Russia has been published by Axios, but has yet to be officially published. Drafted by the U.S. administration, it says it's built on security guarantees, territorial provisions and long-term economic arrangements.
Lithuania’s Vilnius airport was temporarily closed on Thursday after smugglers’ balloons appeared on radar, the National Crisis Management Centre said.
Leaders of the world’s 20 largest economies convened in South Africa on Saturday for a G20 summit notably boycotted by the United States, as members sought to finalise a draft declaration prepared without U.S. involvement — a move a senior White House official condemned as “shameful.”
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 22nd of November, covering the latest developments you need to know.
U.S. officials and lawmakers are alarmed over a meeting last month where Trump administration members met sanctioned Russian envoy Kirill Dmitriev to draft a plan to end the Ukraine conflict, sources say.
Cadillac is gearing up to make its debut in Formula One in 2026, marking a significant milestone in the growing presence of U.S. companies in global sports.
A United Nations human rights expert called on Friday for the United States to lift its long-standing sanctions against Cuba, highlighting the devastating impact of the trade and financial restrictions on the island’s educational system, food security, healthcare, and overall humanitarian situation.
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