Washington: The World Bank has announced the approval of more than $1 billion in funding to support critical infrastructure and reconstruction initiatives across Iraq, Syria, and Lebanon.
The lion’s share of the funding—$930 million—has been allocated to Iraq for a major railway development program. The Iraq Railways Extension and Modernisation Project aims to enhance domestic connectivity by upgrading the rail network between the southern port of Umm Qasr and the northern city of Mosul. The initiative is expected to boost internal trade, generate employment, and contribute to diversifying Iraq’s oil-dependent economy.
“With Iraq transitioning from post-conflict reconstruction to long-term development, stronger trade links and better infrastructure will be key drivers of economic growth,” said Jean-Christophe Carret, Regional Director for the Middle East at the World Bank.
In Syria, a $146 million grant has been approved to address the country's urgent energy needs. The Syria Electricity Emergency Project is focused on rehabilitating vital components of the national grid, including transmission lines and substations damaged during the ongoing conflict. This effort comes on the heels of a recent energy deal between Syria and a consortium of Qatari, Turkish, and American firms to develop a massive 5,000-megawatt power project aimed at revitalizing the country's energy infrastructure.
Meanwhile, Lebanon, grappling with the aftermath of a 14-month conflict between Hezbollah and Israel, will receive $250 million to fund emergency repairs and reconstruction of essential public services and infrastructure. The support is intended to restore basic services and help stabilize the country during its recovery phase.
The World Bank’s investment reflects a broader strategy to foster economic resilience and development in a region still reeling from years of conflict and instability.
