Lebanon needs $11b for 'post-war reconstruction'

The World Bank on Friday estimated Lebanon's recovery and reconstruction costs at $ll billion following the war between Israel and Hizbollah, which ended with a ceasefire last November.

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"Reconstruction and recovery needs following the conflict that affected Lebanon are estimated at $Il billion," the World Bank said in a report assessing damage and losses from Oct.8 to Dec.20, 2024.

The report put the war's total economic cost at $14 billion, including $6.8 billion in damage to physical structures and $7.2 billion in economic losses from reduced productivity, forgone revenues and operating costs.

The Lebanese housing sector was the hardest hit, with losses estimated at $4.6 billion, while the tourism sector lost $3.6 billion.