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Lebanon receives 10 million USD grant from World Bank Credit Fund

BEIRUT | iloubnan.info / NNA - September 12, 2014, 18h53
Lebanese Finance Minister Ali Hassan Khalil, World Bank Director for the Middle East, Ferid Belhaj, and Chairman of the Council for Development and Reconstruction, Nabil Jisr, signed the document for the execution of the World Bank project. - Photo: National News Agency
The Credit Fund, run by the World Bank, launched on Friday during a ceremony held at the Finance Ministry a project to support Lebanese regions hosting Syrian refugees. During during the ceremony, Finance Minister, Ali Hassan Khalil, accepted a grant of ten million US Dollars allocated for the municipalities that are most affected by the refugees' crisis.
This project is in collaboration with several granting countries, namely France, Norway and Finland.

The number of Syrian refugees in Lebanon has reached 1.5 million Syrian refugees in a country of four million.

Khalil along with World Bank Director for the Middle East, Ferid Belhaj, and Chairman of the Council for Development and Reconstruction, Nabil Jisr, signed a document for the execution of the project in the attendance of numerous UN representatives, and diplomats from the granting countries.

According to World Bank estimates, Lebanon needs 1.6 billion USD to face the current crisis and maintain basic services for both citizens and refugees.

Khalil spoke during the event, confirming Lebanon's commitment towards Syrian refugees. He hoped that this would be the "first step for other European and world countries" that were still hesitant about handing out grants.

"The challenge for Lebanon is gargantuan. It is a small country with meager capabilities and infra-structure to receive this huge number of refugees."

The Minister thanked the granting countries for their aid, particularly France.
Tags
#Syrian_refugees, #Syrian_refugees_in_Lebanon, #World_Bank, #Lebanese_Economy
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