The World Bank has approved an additional $300 million in financing for Lebanon, said Jean-Christophe Carré, director of the World Bank’s Middle East branch. TASS.
According to him, this amount will be sent as aid to the Lebanese government so that the country’s Cabinet can meet the needs of low-income citizens suffering from the economic crisis.
He pointed out that the World Bank project aims to develop a unified social protection system and is implemented jointly with the Lebanese Ministry of Social Affairs and the UN World Food Program (WFP).
Former World Bank President David Malpas declarationthis does not wait for the US to default.
In addition, Malpas hopes that the US administration and the Republicans who control the US House of Representatives will be able to find a solution to avoid default.
The previous day, White House press secretary Karine Jean-Pierre said the United States would never default, despite the absence of an agreement with the US Congress on the national debt ceiling.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.