Lebanese Parliament approves the World Bank loans

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BEIRUT, 13 March, 2021 (TON): On Friday, the Parliament of Lebanon passed a law on a $246 million loan of the World Bank.

The law encompasses that the loan will provide assistance to about 150,000 families vulnerable when the Lebanon is at the verge to poverty.

The parliament also passed another law on a $5.5 million World Bank loan.

This loan will include several small and medium sized enterprises in Lebanon, the media said.

However, as the country is going through the U.S. dollar shortage, its currency’s collapse, and higher recession and inflation, it faces worst crippling economy and financial crisis.  

 

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