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The World Bank stated on Thursday that it would redirect funds initially allocated for development initiatives in Lebanon towards providing emergency assistance for individuals displaced by the Israeli bombardment of the country.
"The World Bank is activating emergency response plans to be able to repurpose resources in the portfolio to respond to the urgent needs of people in Lebanon," said a statement from the US-based multilateral institution.
The multilateral institution currently has $1.5 billion in funding for programs in Lebanon. Part of this amount will be redirected.
Since September 23, more than 1,000 people have been killed in an Israeli air-and-ground campaign on Lebanon that has targeted armed group Hezbollah in the south and east of the country, with strikes expanding to include the capital Beirut.
Thousands have been displaced since the bombing began, and the funds would be used to provide aid to those populations, the World Bank said.
"This would include emergency support to displaced people that could be deployed through a digital platform the World Bank helped put in place during the Covid epidemic," the statement said.
