World Bank: $ 270 billion for rebuilding Syria and Libya

October 7, 2015


The World Bank drew attention to the reconstruction of Syria and Libya require huge funds, given the significant destruction solution.

In a press conference at World Bank headquarters in Washington, said Hafez Ghanem, Vice President of the Middle East Department at the World Bank, the reconstruction of Syria requires a $ 170 billion, while Libya's reconstruction will require $ 100 billion.

On Yemen, said Ghanem, the World Bank works with the Islamic Development Bank and the European Union to assess the amounts required for the reconstruction of the country.

Ghanem spoke on the new strategy of the World Bank regarding the Middle East and North Africa, aims to push the region towards stability and peace and the fight against poverty and unemployment.

And he noted that the new strategy relies on four axes are renewing the social contract and the development of the private sector, leading to the development of small and medium-sized industries, creating jobs and combating unemployment.