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| World Bank reaffirms
commitment to Lebanon Mr. Juan José Daboub, World Bank Managing Director joined by Ms. Daniela Gressani, World Bank Vice President for the Middle East and North Africa Region and Mr. Merza Hasan, World Bank Executive Director -for Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Oman, Qatar, Syria, United Arab Emirates, Yemen- concluded a two-day visit to Lebanon. The World Bank delegation met with Prime Minister Fouad Siniora, and members of the cabinet, including Minister of Finance Jihad Azour, Minister of Economy Sami Hadad, Minister of Social Affairs, Ms. Nayla Muawad, Minister of Education, Mohammed Kabbani, Acting Foreign Minister Mitri, and Head of CDR, Nabil Jisr. The World Bank delegation congratulated Lebanon on the success of Paris III and reaffirmed commitment to support the implementation of the reform program presented at Paris III. The delegation also met with representatives from parliament, civil society and private sector to exchange views on the reform program. The meetings highlighted the importance of deepening structural reforms, fiscal sustainability and improving governance and transparency for the successful implementation of the program. “I have seen in the eyes of the people the determination to move forward. The reform program is ambitious but doable, and necessary to put Lebanon on the path to prosperity. This is why it has received the extraordinary support from the international community.” said Mr. Daboub. “Now is the time to implement the program, with full ownership and commitment from all segments of the society. The World Bank Group will continue to support the efforts of the Lebanese people in this direction” he added. “Addressing the needs of the poorest and the most vulnerable is critical for this program to work, so that it can bring better opportunities to all population. The World Bank will offer technical and financial support ,” said Daniela Gressani, World Bank Vice President for the Middle East and North Africa Region. In a visit to southern Lebanon, the delegation visited Bank supported Municipal Infrastructure Project in Saksakiye to assess progress with the reconstruction of priority public infrastructure that would restore basic services to municipalities. The delegation also visited in Saida two community development initiatives, supported by the Bank in partnership with civil society organizations and the private sector, that would facilitate creation of jobs, especially for vulnerable women. “It is these type of projects and partnerships, that empower people through training and jobs, that should be emulated widely” said Mr. Daboub. World Bank’s support to Lebanon following last year’s hostilities represented a rapid and pragmatic response to Lebanon’s reconstruction needs. In September 2006, the Bank’s Board of Directors approved a grant of US$70 million for a Trust Fund for Lebanon to support the reconstruction efforts. Separately, the Bank’s Post Conflict Fund allocated a US$1 million grant to help the Government establish a transparent and accountable system for tracing reconstruction assistance, and to accelerate implementation. The World Bank also prepared an Economic and Social Impact Assessment in close collaboration with the Government, the private sector, international donors and other stakeholders. This assessment was a critical input to the reform program presented at the recently held Paris3 meeting. At Paris III, the World Bank announced an extension of the
World Bank Group’s support to Lebanon up to $700 million in IBRD financing. In
addition, the International Finance Corporation (IFC) -the private lending arm of the
World Bank Group—will provide an expected $250 million in financing for
Lebanon’s financial and business community, including a guarantee program for small
and medium-sized enterprises and a trade finance facility. Contacts: In Washington: Dina El Naggar, (202) 473-3245 Delnaggar@worldbank.org For more information on the World Bank activities in Lebanon, please visit: http://www.worldbank.org/lb |
