World Bank's Multi-Billion Aid Fuels Infrastructure Growth in Middle East

The World Bank announced the approval of over USD 1 billion in funding for infrastructure development and reconstruction initiatives across Iraq, Syria, and Lebanon. These projects aim to facilitate economic recovery and growth in the region.

Iraq received the highest allocation of USD 930 million, directed toward enhancing the nation's railway infrastructure. The project focuses on boosting domestic trade and diversifying the economy while improving connectivity from the Umm Qasr Port to Mosul.

War-torn Syria is receiving a USD 146 million grant to restore its electricity network, while Lebanon, recovering from prolonged conflict, will benefit from USD 250 million to repair critical infrastructure. These moves are part of wider efforts to support post-conflict recovery and development in these nations.

(With inputs from agencies.)