World bank approves PPP for port of Beirut

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The world bank has proposed a Rapid Damage and Needs Assessment (RDNA), prepared by the World Bank in cooperation with the United Nations and the European Union, for the port of Beirut. World Bank considers a prerequisite for building back a better Port of Beirut and revitalizing the Lebanese economy, according to a new World Bank note that aims to provide guidance to policymakers on the crucial additional requirements for the rebuilding of the Port of Beirut (PoB).

The Port of Beirut is the main gateway for the external trade of Lebanon, but it has failed in its key role as an enabler of economic development in the country by failing to guarantee safe and efficient operations and undertaking the necessary long-term strategic planning. These failures are a direct result of the current mismanagement and lack of good governance of the Port that was established in a legal vacuum and adheres to a port management system that arguably reflects the complex political-economic realities of Lebanon, and which as a result run counter to many recognized good practices.

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