DUBAI (Reuters) - 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.

Report says losses concentrated in commerce, tourism, hospitality and agriculture, in addition to damage to physical structures; final costs expected to be far higher

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,