The headquarters of the World Bank. Photo Source: Wikipedia
The headquarters of the World Bank. Photo Source: Wikipedia

The World Bank took action and reportedly decided to freeze a $ 246 million loan in Lebanon. This loan was originally intended to finance the rationing program for families vulnerable to the economic crisis.

The World Bank would have notified this decision to the outgoing Minister of Finance Ghazi Wazni and demanded modifications on the distribution of this program which would be subject to some criticism after the initials included people at the request of certain policies not meeting the necessary criteria and that the Banque du Liban wished to distribute this aid not at the so-called black market parity rate or in foreign currencies but at the rate of 6,240 LL / USD.

Consequently, for lack of response concerning these points, the World Bank decided to suspend this loan, an act already mentioned by the head of state, President Aoun, who had deplored the delay taken by the local administration in responding to the requests. questions asked by her.

As a reminder, this loan aims to finance the rationing program for 800,000 Lebanese families made vulnerable by the economic crisis that the land of cedars is going through. It should thus replace the current subsidy program of the Banque du Liban which would cost 6 billion dollars per year and which until now financed the purchase of basic necessities through the available reserves of the Banque du Liban today in way of exhaustion.

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