Lebanese Finance Minister Yassin Jaber revealed that the World Bank has prepared a preliminary plan for a $1 billion reconstruction project aimed at rebuilding infrastructure and clearing debris caused by the Israeli war on Lebanon, DPA reported.

The plan includes an initial funding commitment of $250 million from the World Bank.

Jaber said that once the bank approves the funds, other countries will contribute to advancing the project as the presence of the World Bank is essential and adds credibility to the initiative.

“As I mentioned,” Jaber noted, “the study is preliminary and assesses both the direct losses for reconstruction and the indirect losses as well.”

He further explained that economic activity declined in 2024, which is considered an indirect loss. “Efforts are needed to prepare ourselves quickly for the success of this project, which may be presented to the World Bank’s Board of Directors by the end of March,” the minister added.