The World Bank (WB) has allocated $250 million toward Lebanon’s recovery, as confirmed by Ousmane Dione, the WB Vice President for the Middle East and North Africa, following a meeting with Finance Minister Yassine Jaber on Friday.
Dione further emphasized the aim to secure an additional $250 million by partnering with a group of international financiers, while working on a $2 billion project to present to the WB’s board of directors.
Ongoing discussions are taking place with several World Bank partners who have expressed interest in funding the project.
In the context of Lebanon, Dione indicated that part of the funding may come as loans, while the remainder could be in the form of grants, depending on the partners involved.
He praised Minister Jaber for his leadership in defining a clear path forward for Lebanon amid the nation’s challenges in reconstruction, recovery and economic revitalization.
“We discussed several areas of mutual interest. The World Bank has supported Lebanon through its toughest times and will continue to assist in its recovery efforts,” Dione affirmed.
He also highlighted a number of approved government and parliamentary projects ready for implementation in key sectors such as public financial management, water, energy and agriculture.
Additionally, the Lebanon Emergency Aid Program (LEAP) was reviewed, with the WB contributing $250 million toward the program, while donor partners and Lebanon’s allies will provide the remaining funds.
Dione expressed confidence that these initiatives will align with the new government’s agenda and lay a foundation for long-term progress.
The overall reform agenda was also discussed, with the WB committed to supporting the new government through a series of sectoral reforms, focusing on transparency and accountability.
In response to questions regarding the necessary conditions for support, Dione clarified, “The reforms needed are the responsibility of the Lebanese government, not imposed by the World Bank or other development partners. The required actions, however, are essential to ensure credibility and transparency, reassuring investors and improving the business environment, which will attract more partners for support.”
Minister Jaber expressed gratitude to Dione for his swift visit to Lebanon and for the WB’s ongoing support for the projects Lebanon urgently needs.
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