Finance Minister Yassine Jaber announced Wednesday that Lebanon has received a preliminary agreement to increase a World Bank reconstruction loan from $250 million to $400 million, as part of a broader push to fund key infrastructure and support economic reforms.

Speaking after a meeting in Washington with World Bank Vice President Ousmane Dione during the IMF and World Bank Spring Meetings, Jaber revealed that Lebanon is set to receive nearly $1 billion in concessional loans with repayment periods that could extend up to 50 years.

The financing includes $250 million — set to be officially signed Tuesday — to support the country’s ailing electricity sector, particularly the power transmission network. Additional funding allocations include $256 million for the water sector, $200 million for agriculture, and $200 million for social affairs.

For the third consecutive day, Jaber and the accompanying Lebanese delegation held meetings on the sidelines of the international financial forums. In a sit-down with IMF Managing Director Kristalina Georgieva, Jaber stressed Lebanon’s commitment to advancing critical reforms and fast-tracking related legislation.

In remarks delivered to the Group of 24 — which includes several Arab countries such as Lebanon, Egypt, and the UAE — Jaber praised the resilience of the Lebanese people and highlighted the country’s “bold and pragmatic mindset” in addressing its crisis. He expressed optimism over the reform process, which he said is now being guided by scientific foundations.

He underscored the importance of collaboration between Lebanon’s executive and legislative branches, relaying the Lebanese Parliament Speaker’s commitment to accelerating the passage of reform-related laws. This, he said, would help unlock financial support and expedite Lebanon’s recovery, reconstruction, and reform drive.

Jaber also met with Lebanese business leaders in Washington, who voiced their readiness to expand outreach to key stakeholders and boost investment in Lebanon. Discussions also included strengthening development cooperation between Lebanon and Egypt, particularly in economic development — a sector where Egypt has seen notable success. Jaber met with Egypt’s Minister of International Cooperation, Rania Al-Mashat, to explore possible areas of collaboration.

During a reception at the Lebanese Embassy in Washington marking the delegation’s participation in the IMF-World Bank meetings, Jaber reiterated Lebanon’s commitment to reform.

“We believe in reform. Each of us, in our ministry, is working with full dedication under the direction of the President and Prime Minister to push the reform process forward,” he said.

He emphasized that the reforms were not being carried out to satisfy the IMF or any external actor, but because Lebanon urgently needs them “for our people, for the future of our country, and to build a better homeland; a homeland our children can return to, one that offers hope and opportunity.”

Jaber acknowledged that Lebanon had lost valuable time over the years.

“What has happened over past decades is difficult to believe,” he said. “How can a country like Lebanon — rich in talent and brilliant minds — end up spending millions of dollars for just a few hours of electricity per day? It’s unacceptable.”

He affirmed that the current government is committed to a “bold and ambitious reform program,” pointing out that structural reform entails more than just replacing personnel; it requires transforming the way the state is managed. Encouragingly, Jaber said, many laws are now in place to facilitate this transition.

Jaber also pointed to recent steps toward transparency and merit-based appointments in public institutions. He highlighted strong public interest in government openings, noting that OMSAR — Lebanon’s Office of the Minister of State for Administrative Reform — received over 650 applications for positions at the Council for Development and Reconstruction, including many from Lebanese expatriates.

Similarly, the Telecommunications Regulatory Authority recently posted five job openings and received 525 applications.

“We are committed to selecting the most qualified candidates because we want the right person in the right position,” he stated.

“In normal circumstances, priorities are set vertically — first, second, third,” Jaber explained. “Today, our agenda is horizontal: everything is a priority.” He cited the need to negotiate with Eurobond holders, resolve the banking sector crisis, and engage seriously with international institutions across all reform fronts.

While financial support remains a key objective, Jaber emphasized that the Lebanese delegation’s primary mission was to rebuild trust — both internationally and regionally.

“We’re not here only for funding, though funding may come later after reforms are implemented,” he said. “We are here to rebuild trust — trust between Lebanon and the international community, and between Lebanon and its Arab partners.”

He described the ongoing negotiations with the IMF not as a gesture of goodwill but as a practical necessity.

“The IMF today represents the main gateway for restoring trust. We want to show the world, and everyone considering investing in Lebanon or contributing to its reconstruction, that Lebanon is serious and moving forward quickly.”