The World Bank estimated that about $8.5 billion worth of damages and losses have piled up from the year-long war in Lebanon, which had already been struggling with a devastating economic crisis.

The World Bank has estimated that the war in Lebanon has so far caused economic losses of almost $5.1 billion for the country. In addition, the losses for property damage so far amount to around $3.4 billion,

The World Bank said on Thursday the ongoing conflict between Israel and Hezbollah has caused $8.5 billion in damage and losses to Lebanon, with final figures expected to be significantly higher as the conflict continues.

Crisis-ridden Lebanon has suffered physical damages and economic losses estimated at $8.5 billion during more than a year of Hezbollah-Israel clashes turned into a war, with housing the hardest hit, the World Bank says.

More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion in economic losses, with actual structural damage amounting to billions more, the World Bank said on Thursday.

The World Bank says the Israel-Hezbollah war has cost Lebanon $8.5 billion in physical damages and economic losses. Housing has borne the brunt of the destruction with nearly 100,000 units damaged.