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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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 27th of February, covering the latest developments you need to know.
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The death toll from heavy rains and flooding in Brazil’s Minas Gerais state has risen to 46, authorities said, with 21 people still reported missing. The storms triggered landslides and widespread flooding, displacing thousands across Juiz de Fora and Uba.
The U.S. Embassy in Jerusalem says it will provide on-site passport and consular services to settlers based in the West Bank on Friday 27 February. The move marks the first time American consular officials have offered such services to settlers, U.S. officials said on Tuesday.
UK police have concluded searches at Andrew Mountbatten-Windsor’s former residence in Windsor Great Park as part of an investigation into alleged misconduct in public office.
The situation in Cuba was heating up and called for restraint following a deadly incident involving a Florida-registered speedboat off the coast of the Caribbean island, the Kremlin said on Thursday (26 February).
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 27th of February, covering the latest developments you need to know.
China’s military said on Friday it had conducted a routine patrol in the South China Sea from 23 to 26 February, accusing the Philippines of “disrupting” regional peace and stability by organising joint patrols with countries outside the region.
Russian Foreign Ministry spokeswoman Maria Zakharova on Thursday (26 February) accused Ukraine of threatening Europe’s energy security by halting oil flows through the Druzhba oil pipeline to Hungary and Slovakia.
U.S.-mediated talks on the Russia–Ukraine war concluded in Geneva on Thursday, with Ukrainian President Volodymyr Zelenskyy describing the outcome as showing “more readiness” for further trilateral diplomacy covering security, economic and political elements of a potential settlement.In his nightly
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