Over two and a half years of war with Israel have left Lebanon with an estimated 21 billion U.S. dollars in damage and economic losses, and experts say reconstruction will be nearly impossible without international help and an Israeli withdrawal.
The Israeli war in Lebanon has inflicted massive damage on the country, with a report this year finding Israeli forces destroying housing units at a rate of about 1,000 a day. More than 200,000 have been either partially or completely destroyed, covering more than 100 villages and cities.
"The cost of war since October 8, 2023 is estimated at 21 billion U.S. dollars. Of that, 7 billion dollars comes from indirect losses due to the shrinking economy, sluggish trade and absence of tourists. The remaining 14 billion dollars reflects damage to infrastructure, housing, and industrial, commercial and tourism facilities," said Mohamed Shams Eldin, a research and political consultant.
Official statistics show that the country's food security has been severely undermined, with agricultural losses estimated at over 500 million U.S. dollars, and damages affecting some 56,000 hectares of fertile land. What makes that financial crisis worse, is the government's inability to assist.
"Lebanon's debt is about 130 billion U.S. dollars, comprising a shortfall at the Bank of Lebanon, Euro-bonds, and loans from the World Bank and other international organizations. Without dealing with these debts, including the Euro-bonds, it will be very difficult for the government to secure the finances for reconstruction. I think it could be impossible to do so," said Khaled Abou Chakra, an economic researcher at the Lebanese Institute for Market Studies.
"The Lebanese state is incapable, definitely crippled to reconstruct, that's why external aid is essential. The current ceasefire is extremely important. It must be complemented with an Israel withdrawal. A ceasefire without withdrawal and reconstruction is incomplete," said Eldin.
Moreover, Israel is currently occupying some 55 villages in Lebanon, which means at least 100,000 people can't go home. They have become refugees in their own country. Millions of dollars monthly is required for the government to accommodate their daily needs.
"Out of the hundreds of millions of dollars pledged to Lebanon through the United Nations and others in 2025, at best 40 percent came through. That's due to the failure to proceed with economic reform, due to the continuous strikes on Lebanon and the security instability," said Chakra.
Lebanon needs foreign aid, Israeli withdrawal to rebuild: experts
Chinese Premier Li Qiang called for quickening the construction of a modern industrial system while making investigation in northeast China’s coastal city Dalian on Monday.
The premier also emphasized the need to adhere to the intelligent, green, and integrated development, strengthen original and pioneering sci-tech research and breakthrough, advance industrial foundation reengineering, and vigorously develop high-end equipment manufacturing to continuously inject new momentum into high-quality development.
Li first visited the Dalian Shipbuilding Industry Co., Ltd, where he listened to briefings on the company's business development and Dalian's shipbuilding industry. He boarded a vessel under construction to learn about the building of liquefied natural gas carriers and other ships.
Noting that high-end shipbuilding features high technology, high difficulty, and high added value, Li called for strengthening the principal role of enterprises in innovation, accelerating breakthroughs in key technologies, cultivating technical experts and industrial workers with rich experience, further enhancing independent innovation capabilities, and creating and leading markets through innovative business concepts and iterative upgrades of products and services.
He pointed out that Dalian's shipbuilding industry has a fairly solid foundation in developing high-end equipment manufacturing, urging efforts to keep a close eye on international frontiers, focus on key areas for sustained breakthroughs, strengthen exchanges and cooperation within the industry, and strive to build advanced manufacturing clusters and a world-class shipbuilding base.
At the Dalian Nuclear Power and Petrochemical Co., Ltd. affiliated with China First Heavy Industries (CFHI), Li learned in detail about the research and development of nuclear power and petrochemical equipment, and entered the workshop to see the processing and manufacturing of nuclear reactor pressure vessels.
The premier emphasized that advanced nuclear power and other high-end equipment are of vital importance to national energy, industrial, and sci-tech security. He called for deepening the integration of scientific and technological innovation with industrial innovation, accelerating the application of scientific and technological advances, enhancing original design capabilities and precision manufacturing capabilities, and promoting the safe application of next-generation nuclear power technology.
Li underlined that building a modern industrial system requires not only cultivating and expanding emerging and future industries, but also optimizing and upgrading traditional industries.
He said that the research, development, and production of high-end petrochemical equipment plays an important foundational role in improving the quality and efficiency of related industries.
Li called for strengthening digital and intelligent technology empowerment, advancing updates and upgrading standards, strictly regulating environmental protection and energy efficiency standards, making breakthroughs on a number of major technical equipment, and continuously enhancing core competitiveness.
Li also spoke with technical personnel on-site, encouraging them to carry forward the spirit of superior workmanship and contribute to enterprise development and national development.
Chinese premier calls for quickening building of modern industrial system
