World Bank Decides to Loan Lebanon

World Bank Vice President for Middle East and North Africa Ferid Belhaj stated that they can provide a loan of 500 million dollars to Lebanon, which is going through hard times due to the economic crisis.

World Bank official Ferid Belhaj held a press conference after his meeting with Lebanese Prime Minister Najib Mikati at the Government Palace in the capital Beirut. Speaking at the meeting, Belhaj said, "We had a positive meeting with Prime Minister Mikati. We talked about the opportunities for strong cooperation between Lebanon and the World Bank. The World Bank has always supported the Lebanese government and people." Emphasizing that Lebanon is going through hard times due to the economic crisis, Belhaj said, "The World Bank is ready to offer Lebanon a loan of between 300 and 500 million dollars to be used for social expenditures." Stating that the loan will be particularly important in reducing the poverty line, which has reached a high level, Belhaj said that in addition to social expenditures, the loan can be used in sustainable agriculture and food sector. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!