World Bank: Lebanon's war-inflicted losses reach $8.5 billion

14 Nov 2024, 18:06 by Dalal Saoud · UPI

BEIRUIT, Lebanon, Nov. 14 (UPI) -- Crisis-ridden Lebanon has suffered physical damage and economic losses estimated at $8.5 billion during more than a year of Hezbollah-Israel clashes-turned-into-war, with the housing sector the hardest hit, the World Bank said Thursday.

In a report assessing the impact of the Hezbollah-Israel conflict on Lebanon's economy and key sectors from Oct. 8, 2023, to Oct. 27, 2024, the World Bank said that "damages to physical structures alone amount to $3.4 billion and that economic losses have reached $5.1 billion."