Arab Fund pledges $120 million to Lebanon's reconstruction effort

Lebanon's Finance Minister Yassine Jaber received confirmation from the Arab Fund for Economic and Social Development of its readiness to contribute up to $120 million to the World Bank's new reconstruction fund, which is being launched with a ceiling of $1 billion.

Jaber, accompanied by members of the Lebanese delegation, continued a series of meetings in Washington with senior officials from the World Bank, the U.S. Treasury Department, and several Arab and Islamic funds.

During a joint meeting of Arab finance ministers and central bank governors with IMF Managing Director Kristalina Georgieva and her team, Jaber highlighted Lebanon’s legislative and governmental progress and the ongoing reforms paving the way for a formal program with the IMF. 

He said such a program could open paths toward economic and financial recovery, creating the conditions needed for Lebanon to emerge from years of crisis, aggravated by recent Israeli attacks that have further undermined stability and growth.

Jaber also held talks with representatives of the International Finance Corporation (IFC), the World Bank’s arm focused on private sector development. He described the discussions as “important,” especially in light of Lebanon’s adoption of a new public-private partnership law, which aims to stimulate investment and support economic revival.

According to Jaber, the IFC expressed its intention to play a stronger and more active role in supporting Lebanon’s recovery, emphasizing its willingness to help implement projects that strengthen the country’s private sector and foster long-term economic stability.