The World Bank has made an additional $ 300 million available to the most vulnerable people in the face of the economic crisis, the presidency of the republic said in a statement released after a meeting between the president of the republic. republic General Michel Aoun and Ferid Belhaj, vice-president of the Middle East and North Africa region of the institution.
The press release recalls that the World Bank has already committed up to 246 million dollars as part of the program aimed at establishing a social safety net in the face of the economic crisis. The payment of this sum remains, however, subject to the clarifications that should be provided by the Ministry of Social Affairs when a controversy had arisen over the possible allocation to people who do not meet the criteria.
As a reminder, this social safety net program must replace the current program of subsidies for the purchase of basic necessities which is about to end for lack of possible financing by the Bank of Lebanon, whose available monetary reserves would be. about to run out.
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For his part, General Aoun indicated that the first task of the next government will be to undertake the forensic audit of the accounts of the Bank of Lebanon, a necessary prerequisite for reforms. The head of state also referred to the various crises that the Land of Cedars is currently going through, in particular the explosion of the port of Beirut, the influx of Syrian refugees or the economic crisis.
The news comes as the World Bank released a new report last week where she believes that the current financial crisis in the Pays des Cèdres could be one of the most serious economic and financial crises since 1850 .
