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.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be...
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Méd...
Kyrgyzstan has introduced an indefinite ban on the export of crude oil and petroleum products by road and rail in an effort to prevent fuel shortages ...
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Médecins Sans Frontières (MSF) has warned, calling for an urgent expansion of containment and care measures.
Georgia and the European Union have held their first working-level talks in Brussels following the EU's decision to suspend visa-free travel for holders of Georgian diplomatic, service and official passports.
The European Union (EU) has announced an additional €20 million ($22.8 million) in humanitarian assistance for Venezuela after last month's deadly earthquakes, which killed more than 4,700 people.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
The death toll from the fire at a live music pub in Bangkok has climbed to 32 after two more victims died from their injuries, according to Thailand's Police Hospital.
Ukraine and Russia exchanged fresh attacks on Tuesday, with Kyiv targeting shipping and energy infrastructure inside Russia while Moscow launched another large-scale missile and drone assault on Ukrainian cities.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
Ten EU countries, led by Italy and Poland, have urged the European Union to reconsider a new carbon price on fuel as part of a wider overhaul of the bloc's carbon market, according to a joint statement seen by Reuters.
The European Union (EU) has announced an additional €20 million ($22.8 million) in humanitarian assistance for Venezuela after last month's deadly earthquakes, which killed more than 4,700 people.
India's investigation into last year's Air India crash that killed 260 people has entered its final stages, with investigators completing a transcript of the cockpit voice recorder and carrying out a psychological autopsy as they work towards a final report.
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Médecins Sans Frontières (MSF) has warned, calling for an urgent expansion of containment and care measures.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment