World Bank supports Lebanon’s economic reforms with $500 million
Financial support targets the effects of the economic crisis on the MENA region, says World Bank VP.
May 20, 2010 10:13 by Rasha Reslan
Lebanon’s government will receive $500 million in aid to advance economic reforms in the country, the Daily Star reports.
The World Bank’s Vice President for the MENA region, Shamshad Akhtar, revealed details of the aid in a meeting with Lebanon’s Finance Minister. The money will reportedly fund initiatives for the coming four years, supporting reforms and investments that will create jobs and address disparity between different regions in the country.
“We renew our support for the coalition government to implement the vital program which will help achieve growth as well as tackle the effects of the financial crisis which hit the Middle East and North Africa,” Akhtar said, according to the paper.