Beirut: Lebanon announced the signing of a $250 million loan agreement with the World Bank aimed at rebuilding infrastructure damaged by Israeli attacks. The agreement was signed by Finance Minister Yassine Jaber and Jean-Christophe Carret, the World Bank's regional director, as confirmed by a statement from the Lebanese Finance Ministry.

According to Anadolu Agency, Jaber described the loan as 'seed funding for a reconstruction fund,' with aspirations to expand it to $1 billion. The loan is intended to cover infrastructure sectors such as roads, electricity, water, schools, and hospitals in regions affected by the recent Israeli war.

Carret highlighted that the loan is part of Lebanon's emergency support program and serves as 'a cornerstone of the government's recovery and reconstruction strategy.' He outlined the program as 'a national framework designed to quickly restore vital services, rebuild damaged public infrastructure and lay the foundation for sustainable, inclusive, and climate-resilient reconstruction.'

Carret emphasized that this support will enable the government to commence reconstruction and undertake the most urgent investments within the next 18 to 24 months. This will aid in helping displaced residents return, enable institutions to reopen, preserve and create jobs, and restore essential services.

In June, Jaber estimated that the cost of rebuilding the areas damaged by Israeli attacks would amount to approximately $7 billion. The conflict began with Israel launching a military offensive in Lebanon on Oct. 8, 2023, which escalated into a full-scale war by September 2024, resulting in over 4,000 deaths and around 17,000 injuries.

Although a ceasefire was reached in November, Israeli forces have continued near-daily attacks in southern Lebanon, citing Hezbollah activities as their target. Under the truce, Israel was expected to fully withdraw from southern Lebanon by Jan. 26, but the deadline was extended to Feb. 18 due to Tel Aviv's non-compliance, with Israel still maintaining a military presence at five border outposts.