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Aoun to the World Bank in Lebanon: Lebanon will soon launch a comprehensive economic plan

14-7-2017

The Regional Director of the World Bank’s Middle East region, Saroj Kuma Jha, visited President Michel Aoun, House Speaker Nabih Berri and Finance Minister Ali Hassan Khalil to discuss partnership between Lebanon and the WB. Kumar also met with the president of the Lebanese Businesspeople Association (RDCL), Fouad Zamakhal, who was briefed on the WB view of the current economic situation in Lebanon and anticipations for the coming period. In this respect, Aoun notified Kumar that Lebanon is in the process of launching a comprehensive economic strategy that includes future economic visions to bolster productive sectors and limit dependence on rentier economy. Aoun, who thanked the World Bank for its trust in Lebanon’s ongoing recovery through its support of numerous development projects, told Jha that backing small and medium enterprises is a priority and an essential step to boost national economic capacities. Similarly, Jha stressed the World Bank’s unwavering commitment to help Lebanon particularly in the wake of restoration of constitutional institutions, revealing that the international organization has allocated a financial portfolio according to priorities set by the President and the Government. For his part, Zamakhal asked the World Bank to assist Lebanon through organizing transparent bids, structural reform in public institutions and provision of funds for infrastructure rehabilitation. Jha in return noted that the World Bank is fully prepared to support Lebanon to promote job creation through development of the private sector. (AL Diyar, Al Mustaqbal, July 14, 2017)

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