World Bank Approves Over $1 Billion for Infrastructure and Reconstruction Projects in Iraq, Syria, and Lebanon
Iraq will benefit from a $930 million package aimed at revamping its railway system, boosting trade, creating employment opportunities, and supporting economic diversification.
ERBIL (Kurdistan24) — The World Bank has approved over $1 billion in funding for critical infrastructure and reconstruction efforts across Iraq, Syria, and Lebanon, with Iraq receiving the lion’s share of the assistance, according to the Associated Press (AP).
Iraq will benefit from a $930 million package aimed at revamping its railway system, boosting trade, creating employment opportunities, and supporting economic diversification. The Iraq Railways Extension and Modernization Project is designed to enhance freight services along a key national corridor stretching from the strategic Umm Qasr Port on the "Persian Gulf" to the northern city of Mosul.
“As Iraq shifts from reconstruction to development, enhanced trade and connectivity can stimulate growth, create jobs, and reduce oil dependency," said Jean-Christophe Carret, Director of the World Bank's Middle East division.
In war-ravaged Syria, the World Bank approved a $146 million grant to support efforts to restore the country’s crippled power grid. The Syria Electricity Emergency Project will focus on repairing critical transmission lines and transformer substations to provide more reliable and affordable electricity—an essential step toward economic recovery.
The grant comes just weeks after Syria signed a multi-national agreement with Qatari, Turkish, and U.S. firms to develop a 5,000-megawatt energy project, aimed at revitalizing much of its war-damaged electricity network.
Meanwhile, Lebanon—still recovering from the devastating 14-month war between Israel and Hezbollah—will receive $250 million to fund emergency reconstruction of key public infrastructure and essential services. The funding will prioritize repairing severely damaged sectors that are critical to public safety and economic resilience.
The World Bank’s latest financial support package underscores its increased focus on stabilizing conflict-affected nations and supporting long-term development goals in the Middle East.
