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The evaluation called for the rebuilding of a better Lebanon based on the principles of transparency, tolerance and accountability to meet the needs and aspirations of its people.
To help address urgent needs for global response measures, the World Bank worked with the United Nations and the European Union, and worked closely with Lebanese ministries, civil society organizations and other key stakeholders to carry out this quick damage and needs assessment.
Preliminary estimates show that the most affected sectors are housing, transport and intangible cultural property (including religious and archaeological sites, national monuments, theaters, archives, libraries and monuments).
UN News / Zhang Jing
National Museum of Beirut
It is estimated that the demand for reconstruction and recovery of the public sector this year and next will be between 1.8 and 2.2 billion dollars, of which the short-term demand as of December of this year is between 605 million and 760 million dollars, and short-term demand in 2021 will be between $ 1.18 and $ 2.2 billion. Between 1.46 billion US dollars. The transport sector has the highest demand, followed by cultural industries and housing.
The World Bank said that although the estimate is preliminary, it has laid the foundation for the reform, restoration and reconstruction program. This program has inspired the hope of the entire Lebanese people for a better future, and the Lebanese people must play a leading role in this program.
The three main economic effects of the explosion are: loss of economic activity caused by destruction of physical capital, disruption of trade, and loss of public revenue. However, before the explosion, Lebanon was already facing a complex crisis. Before the explosion, the real GDP growth rate in 2020 was predicted to reach negative double digits. This was due to the after-effects of the Syrian conflict: Lebanon continued to become the world’s per capita dwelling – the country with the largest refugee population.
The current crises facing Lebanon also include: financial and economic crises, currency crises, high rates of inflation, bankrupt public sectors and the impact of the new corona epidemic. The bombing disaster will not only exacerbate the downturn in economic activity, it will also exacerbate the poverty rate. Before the explosion, the poverty rate was almost half that of the population.
© UNICEF Photo / Ramzi Haidar
In Beirut, Lebanon, volunteers are cleaning up the ruins of the blast site.
The assessment shows that critical recovery needs in the next three months alone will require approximately $ 35-40 million for large-scale immediate cash transfers to meet the basic needs of 90,000 affected people and 15,000 people. Create short-term job opportunities. These funds also include housing for the most vulnerable displaced people, low- and middle-income families, and repairs for low-income families with the lowest losses and partially damaged homes. In addition, financial support of between US $ 225 million and US $ 275 million is also needed immediately to help nearly 10,000 micro and small businesses resume hiring thousands of Lebanese. These small business recovery grants and concessional loans will be used to restart business and retain the rebuilding, equipment and working capital needed to retain the workforce.
The World Bank stated that reconstruction work requires not only the repair and reconstruction of damaged buildings and infrastructure, but also the reconstruction of government institutions and government structures. For example, the evaluation recommended that, in addition to ensuring the emergency works necessary for the important imports from Lebanon, the port should be rebuilt in a comprehensive and modern way so that it is better located, larger in scale and follows the most efficient and transparent practices. .
The assessment also recommends a “better rebuild” approach through the reform, recovery and reconstruction framework, combining measures that prioritize the needs of people with structural reforms related to macroeconomic stability, governance, the private sector operating environment and the guarantee of the safety of people. . These reforms will prevent corruption and elites control.
The World Bank noted that, given Lebanon’s insolvency and lack of sufficient foreign exchange reserves, international assistance and private investment will be critical to its full recovery and reconstruction. Lebanon’s implementation of a credible reform program will be the key to obtaining international development assistance and unlocking sources of external and private sector financing.
The report stated that the World Bank, the United Nations and the European Union are doing everything they can to work with Lebanon and its people to rebuild a better Lebanon that puts the needs of the Lebanese people first.
