The World Bank presented a $1 billion project to Prime Minister Nawaf Salam on Wednesday, including a $250 million loan to finance the initial steps of reconstructing Lebanese regions destroyed by Israeli bombings, according to a statement from the prime minister's office. The remainder of the amount is to be financed by international aid.

The announcement was made during a meeting at the Grand Serail dedicated to the issue, attended by the World Bank's regional director, Jean-Christophe Carré.

Several ministers were present, including those from Finance, Energy, Economy, Public Works, Social Affairs and Environment, as well as the Council for Development and Reconstruction (CDR) and the Basil Fleihan Institute of Finance.

The project includes debris processing and infrastructure reconstruction. During the meeting, the prime minister insisted that border areas be prioritized in this project.

The World Bank finalized its definitive report a week ago on the damages and losses sustained by Lebanon due to the war between Israel and Hezbollah from Oct. 8, 2023, until the truce on Nov. 27, 2024. It estimated the total damage cost at $6.8 billion in regions affected by Israeli bombings, with economic losses estimated at $7.2 billion for the entire country. It also estimated the recovery and reconstruction cost at $11 billion "in the short and medium term."

A $250 million emergency aid loan, which the organization plans to grant Lebanon for "reconstruction, debris removal, and infrastructure rehabilitation," had already been discussed with relevant officials. Finance Minister Yassine Jaber had mentioned the $1 billion project to the agency Reuters in late February.