The World Bank has approved an additional 300 million in financing for Lebanon, announced by Jean-Christophe Carré, who leads the World Bank’s Middle East division. The funding will be directed to support the Lebanese government, enabling the Cabinet to address the needs of low income families hit hardest by the ongoing economic crisis.
The project aims to integrate and strengthen a unified social protection system in Lebanon. It is being implemented in partnership with the Lebanese Ministry of Social Affairs and the United Nations World Food Programme (WFP). This cooperative approach seeks to provide more reliable assistance to vulnerable groups, including cash support and access to essential services, while fostering a more transparent and efficient social safety net.
In related discussions, former World Bank President David Malpass suggested that current fiscal pressures in the United States should not prevent international aid or financial commitments from moving forward. He expressed hope that US lawmakers would reach a consensus that prevents a default scenario and ensures steady support for global development initiatives.
Meanwhile, White House spokesperson Karine Jean-Pierre reaffirmed the administration’s stance that the United States will not default, even as negotiations with Congress over the national debt limit continue. The exchange highlights the broader context in which international development funds and aid programs operate, underscoring the interconnection between national fiscal policy and global poverty alleviation efforts.