The World Bank announced Tuesday that it will allocate about 300 million U.S. dollars this year to provide social protection to Lebanon’s vulnerable population and invest 200 million dollars in the country’s agriculture sector.
Ferid Belhaj, World Bank vice president for Middle East and North Africa, made the remarks during his meeting with Lebanese Prime Minister Najib Mikati to discuss ways of supporting Lebanon amid its current economic crisis, the National News Agency (NNA) reported.
There is a possibility of “investing more money in the coming years in Lebanon’s agriculture, industry, environment, energy, and economy in addition to the health and education sectors, which are among the most important sectors in the current situation,” Belhaj said.
“Establishing projects to serve the Lebanese citizens, such as the social coverage project, is very important as they directly impact Lebanese citizens who have reached an unprecedented level of poverty,” Belhaj said.
He added that the World Bank is also considering an investment of 100 to 150 million dollars in renewable energy projects in Lebanon. ■