Beirut, December 18 (SocialNews.XYZ) A senior World Bank official said the bank is ready to participate in Lebanon’s reconstruction after the end of the Hezbollah-Israel conflict.
Jean-Christophe Carret, country director of the World Bank’s Middle East Department, expressed his intention to cooperate with the Lebanese government in rebuilding the country, Xinhua News Agency reported, citing Lebanon’s state-run news agency.
Kallet made the remarks during a meeting with Navi Berri, Speaker of the Lebanese Parliament, during which they discussed reconstruction projects and programs, including debris removal, infrastructure reconstruction, and rehabilitation of industrial and agricultural facilities.
Berri praised “the World Bank’s willingness and readiness to respond to and engage with Lebanon in rebuilding and addressing the impact of Israel’s aggression.”
He also asked for details of a plan being prepared by the World Bank, saying, “This plan includes reclaiming land and getting farmers, industrialists, and small business owners back on their feet within a period not exceeding the end of life.” This must include securing financing to make it possible.” This year. ”
According to the World Bank, the physical damage and economic losses from the Hezbollah-Israel conflict in Lebanon are estimated at $8.5 billion.
As a result of the conflict, Lebanon’s real GDP growth rate will decline by an estimated 6.6% in 2024, with the cumulative decline in real GDP since 2019 reaching more than 38% by the end of the year, according to the latest World Bank estimates. Published by the Lebanese Economic Monitor (LEM) on December 10th.
The deepening economic contraction reflects the devastating effects of mass displacement, destruction, and reduced consumer spending.
This further exacerbates unresolved macroeconomic challenges and highlights the urgent need for comprehensive reform and targeted investment in critical sectors as the only viable path forward post-conflict. There is.
Source: IANS
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