Skip to main content
Live blog update| Beirut explosion

World Bank says ready to mobilise financing for Lebanon blast recovery

The World Bank Group said on Wednesday it stands ready to assess Lebanon's damage and needs after a devastating Beirut port explosion and will work to help mobilise public and private financing for reconstruction and recovery.

The World Bank said in a statement that it "would be also willing to reprogram existing resources and explore additional financing to support rebuilding lives and livelihoods of people impacted by this disaster".

The bank did not indicate which resources could be diverted to a blast recovery effort, Reuters reported.
 
In June, the multilateral development lender announced that it would reallocate $40 million from an existing $120m health programme for Lebanon to help the country fight the coronavirus pandemic.