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BEIRUT (AP) — The World Bank said Wednesday it approved over $1
billion dollars for infrastructure and reconstruction projects
in Iraq, Syria and Lebanon.
The biggest amount went to Iraq, where the World Bank approved
$930 million to help improve the country’s railway
infrastructure, boost domestic trade, create jobs and diversify
the economy.
The World Bank said the Iraq Railways Extension and
Modernization Project will improve services and increase freight
capacity between the Umm Qasr Port on the Persian gulf in
southern Iraq 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.
The World Bank also approved for war-torn Syria a $146 million
grant to help restore reliable, affordable electricity and
support the country’s economic recovery. It said the Syria
Electricity Emergency Project will rehabilitate damaged
transmission lines and transformer substations.
Last month Syria signed an agreement with a consortium of
Qatari, Turkish and U.S. companies for the development of a
5,000-megawatt energy project to revitalize much of its
war-battered electricity grid.
For Lebanon, which is recovering from the 14-month
Israel-Hezbollah war, the World Bank approved $250 million to
support the most urgent repair and reconstruction of damaged
critical public infrastructure and lifeline services.
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