The World Bank has announced plans to activate an “emergency response” in Lebanon to support the “urgent needs” of residents affected by the conflict between Israel and Hezbollah.
In a report quoted by Al Jazeera on Thursday, the World Bank estimated the physical damages and economic loses due to the conflict at $8.5bn, as the conflict continues to escalate.
“There are over 875,000 internally displaced persons in Lebanon, with women, children, the elderly, persons with disabilities, and refugees at highest risk,” the report said.
“An estimated 166,000 individuals have lost their jobs, corresponding to a loss of US$168 million in earnings.”
The World Bank added that Lebanon’s housing sector has taken the hardest hit, losing $3.2bn in damages, as nearly 100,000 housing units have been partially or fully damaged.
“Disruptions to commerce are amounting to close to US$2 billion, driven in part by the displacement of employees and business owners,” the report said, adding that distruction of crops, livestock and displaced famers has put agricultural damages at about $1.2bn.
Meanwhile, Israel has continued its bombardment of Lebanon, with its warplanes bombing a two-storey building in the Al-Shaab neighbourhood of Baalbek city in Lebanon’s Bekaa Valley, killing nine people and injuring five others, the country’s National News Agency said on Thursday.
According to the report, rescue teams were still removing the rubble and trying to find more people.
Lebanon’s health ministry said on X that at least three people were killed in an Israeli strike in Baalbek, adding that “body parts were recovered from the site and their identities are being verified”.