The World Bank announced on Thursday that it is reallocating $250 million originally intended for renewable energy development to provide urgent assistance to those displaced by the recent escalation of Israeli airstrikes in Lebanon.
This decision aims to address the immediate needs of the Lebanese population affected by the ongoing conflict.
The Washington-based financial institution stated that it has activated its emergency response plan to allocate resources within its existing portfolio to meet the urgent needs of the population.
The aid will be distributed in close coordination with development and humanitarian partners, emphasizing a collaborative approach to relief efforts.
Initially, the funds were designated to enhance Lebanon’s electricity network, focusing on increasing its independence through renewable energy sources. However, the pressing humanitarian crisis has prompted a shift in priorities.
Since September 23, the Israeli military has launched a series of intensive airstrikes targeting what it claims are Hezbollah positions in southern and eastern Lebanon, as well as the southern suburbs of Beirut.
According to Lebanese authorities, over 1.2 million people have been displaced due to the bombardment that intensified last week.
The death toll has also risen significantly, with more than 2,000 fatalities reported since the escalation began last year, including over 1,000 since September 23 alone.
