Belhaj tells Mikati World Bank ready to give Lebanon $300-500M

Prime Minister-designate Najib Mikati held talks Tuesday at the Grand Serail with a World Bank delegation comprising the bank’s Vice President for Middle East and North Africa Ferid Belhaj and Jean-Christophe Carret, the bank’s Country Director for the Middle East Department (Iran, Iraq, Jordan, Lebanon and Syria).

Speaking after the meeting, Belhaj said the meeting was constructive and positive and that the World Bank is ready to offer Lebanon funding worth 300 to 500 million dollars for social aid and projects related to sustainable food and agriculture.

Asked about the issue of the World Bank’s stalled funding for Lebanon’s importation of gas and electricity from Egypt and Jordan, Belhaj said that there are important reforms that the Lebanese state is yet to carry out, such as auditing the accounts of the state-run electricity company, forming an electricity regulatory commission and correcting tariffs.