Friday, February 03, 2023 | Rajab 11, 1444 H
clear sky
weather
OMAN
21°C / 21°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

World Bank to provide Lebanon with $300-500m

No Image

The World Bank is ready to provide Lebanon with $300 to $500 million this year for social security and other projects relating to food and agriculture, the Lebanese cabinet tweeted on Tuesday, citing the fund's Vice President for the Middle East and North Africa, Ferid Belhaj.


Already reeling from three years of economic meltdown, Lebanon faces the prospect of its multi-faceted crisis deepening further when President Michel Aoun's mandate expires in a week from now.


The deadline looms as the country is headed by a caretaker administration, since key parties have been unable to agree on a proper government to replace one whose mandate expired in May. Parliament has held four rounds of voting since last month, with no candidate garnering enough support from parties to succeed Aoun, prompting fears of a protracted power vacuum. -- Reuters


SHARE ARTICLE
arrow up
home icon