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From the Liveblog of
Thursday, April 24, 2025
From the Liveblog of
Thursday, April 24, 2025
Lebanon receives $250 million World Bank loan to ease power problems
The World Bank has granted Lebanon a $250 million loan aimed at helping alleviate persistent power cuts worsened by the war between Israel and the Hezbollah terror group, the country’s finance ministry says.
Even before the conflict, Lebanon had for years been struggling with a severe shortage of imported fuel and poor infrastructure.
Following the conflict, however, the World Bank said it would need around $11 billion for reconstruction and recovery.
Lebanon has previously said it received preliminary approval to increase a World Bank reconstruction loan to $400 million from $250 million. The loan is part of a $1 billion reconstruction program, with the remainder of the financing to come from international aid.
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