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.

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.

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,