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Global Bank's President Ron Nechemia Offers Humanitarian and Developmental Assistance to Lebanon in Response to the Deadly Explosion

"We share the pain and sorrows of the Lebanese people" say's Ron Nechemia President of Global Bank

Los Angeles, CA – August 14, 2020Global Bank Group () has offered humanitarian and development assistance to Lebanon after a massive explosion rocked its capital Beirut that killed more than 220 people and injured thousands on Tuesday, the President of Global Bank Group Ron Nechemia said.

"I pledge my fraternal solidarity with the people of Lebanon, and we share the pain and sorrows of the Lebanese people after the explosion that killed more than 220 people, wounded more than 4,000 and left an estimated 300,000 homeless in Beirut," said Nechemia.

The Global Bank Group’s regional office for the Middle East and North Africa Region and the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (), are working with Lebanon’s Prime Minister Hassan Diab and partners, to respond to the “urgent needs of Lebanon” following the “devastating explosion” that rocked Beirut on Tuesday.

The Global Bank Group has already activated the Global Bank Disaster Risk Reduction and Reconstruction Fund.  The GB-DRRRF has the mandate for coordinating the Global Bank Group relief efforts globally. These relief efforts include: (a) bringing risk reduction investments to the scale necessary to enable countries to achieve the Sendai Framework targets by 2030; (b) supporting client countries to implement the resilience objectives specified in their Nationally Determined Contributions, and (c) to support the implementation of the Global Climate Agreement in Paris and prevent disasters undermining progress on the Sustainable Development Goals.

Flagging its experience in providing crucial long-term support to effective post-disaster reconstruction and recovery across the world through the three stages of relief, recovery, and rehabilitation, Global Bank expressed its “very keen and sincere desire” to assist Lebanon in their recovery efforts including replenishing, rebuilding roads and telecommunications infrastructure.

The Global Bank Group's Country Partnership with the Republic of Lebanon is focused on scaling up access and quality of service delivery and expanding economic opportunities to all. Through these two focus areas, the Global Bank Group will help Lebanon mitigate the economic and social impact of the Syria crisis, safeguard the country’s development gains, and enhance stability and development prospects in the coming years. The Country Partnership will contribute to strengthening the relationship between the state and its citizens, a critical ingredient for peace and stability.

The Global Bank Group, along with other international partners, has been working very closely with the government to scale up assistance in this regard, including through the Global Bank Infrastructure Project Preparation Facility.

In a fragile and conflict-prone environment, the Global Bank Group aims at mitigating the immediate, and the potentially long-lasting impact of the Syria crisis on Lebanon, while strengthening state institutions, addressing existing vulnerabilities, and bolstering efforts on longer-term development challenges, all through interventions that foster inclusion and shared prosperity. When an extreme environmental hazard strikes, infrastructure can be a deciding factor in whether or not the situation becomes a disaster. Roads, for example, can provide access to supply relief aid to affected communities quickly; but if roads are destroyed, entire regions can be cut off from support.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund helps strengthen the security and resilience of critical infrastructure, for the continuity of essential national functions, and to organize itself to partner effectively with and add value to the security and resilience efforts of critical infrastructure owners and operators.

The objective of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund in infrastructure is to improve alignment and coordination between established and new infrastructure initiatives, as well as among multilateral and national development banks, national institutions, and the private sector; to bridge the ‘infrastructure investment gap;’ and to facilitate the implementation of sustainable, accessible and resilient infrastructure, particularly for developing countries.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund will prepare projects in a manner that fits the developmental-driven mandate of Global Bank in the infrastructure sector, namely, to deliver outcomes focused on commercialized approaches, private sector participation, strong environmental and social standards and energy efficiency improvements across the sectors

Release Date: 
Friday, August 14, 2020

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (GB-DRRRF) (), established in 2017, is a multi-donor partnership and grant-making financing mechanism. Its purpose is mainstreaming climate change into development to help achieve the Sendai Framework targets by 2030 - a decade-long plan to help make the world safer from disasters caused by natural hazards — and to support the implementation of the Global Climate Agreement in Paris, and prevent disasters undermining progress on the Sustainable Development Goals. The rapid and flexible support offered by the Global Bank Disaster Risk Reduction and Reconstruction Fund makes it a central pillar of the Global Bank Group agencies’ humanitarian response architecture.

More detailed information can be found on the GB-DRRRF’s website http://www.gbdrrrf.org/

About Global Bank
Owned by the Global Bank Group, The Bank for International Development and Reconstruction, known as the Global Bank borrows in the international capital markets (the “BIDR,” or the “Global Bank”) and is the Global Bank Group’s long-term sovereign lending institution. As a development bank with an agenda driven by G-7/G-8 and G-20-priorities, its leading priority is to promote global economic and social development. Unlike the multilateral development banks (MDBs), Global Bank is not restricted to operating only in developing countries.

Global Bank GroupThe Global Bank Group () represents, develops and supports the collective interests of the Global Bank and any of its business interests globally. Global Bank is a full-fledged private sector global development bank, in formation, – the world’s second global development bank – positioned next to the World Bank Group and next to the preeminent regional development banks. It combines the characteristics of a multilateral development bank with those of a private financial institution. The primary objective of the Global Bank is to reduce poverty in middle-income countries and creditworthy poorer countries by promoting sustainable development. To this end, Global Bank finances primarily public sector infrastructure projects and sustainable development through the provision of sovereign loans to developing countries. Global Bank’s financial objective is not to maximize profit, but to earn an adequate income to ensure its financial strength and to sustain its development activities.

For information about the Global Bank, please visit http://www.global-bank.org


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