A street not far from the Tayouneh roundabout this Friday, November 15, in Beirut. (Credit: P.H.B)
The World Bank estimated that the Israel-Hezbollah, which began on Oct. 8, 2023 and was for a long time limited to southern Lebanon and parts of the Bekaa Valley before escalating into an all-out war at the end of the summer, has cost Lebanon $8.5 billion.In a new report the World Bank published on Thursday, dubbed Lebanon Interim Damage and Loss Assessment, the organization said the physical damage caused by the Israel shelling to the physical structures, amounted alone to $3.413 billion, while the economic losses topped $5.062 billion.Housing has been the hardest hit, with the damages to physical structures exceeding $3 billion, according to the same source. Nearly 100,000 housing units have been damaged in one year. Read more: 2024 Vintage: Lebanese winemakers in the South and the Bekaa harvest against all odds ...
The World Bank estimated that the Israel-Hezbollah, which began on Oct. 8, 2023 and was for a long time limited to southern Lebanon and parts of the Bekaa Valley before escalating into an all-out war at the end of the summer, has cost Lebanon $8.5 billion.In a new report the World Bank published on Thursday, dubbed Lebanon Interim Damage and Loss Assessment, the organization said the physical damage caused by the Israel shelling to the physical structures, amounted alone to $3.413 billion, while the economic losses topped $5.062 billion.Housing has been the hardest hit, with the damages to physical structures exceeding $3 billion, according to the same source. Nearly 100,000 housing units have been damaged in one year. Read more: 2024 Vintage: Lebanese winemakers in the South and the Bekaa harvest against all odds ...