BEIRUT, June 4 (Xinhua) -- World Bank Group Vice President for the Middle East and North Africa Ferid Belhaj said Friday that the World Bank will increase funds allocated to the most vulnerable families in Lebanon, according to a statement by the Finance Ministry.
"We will be offering more funds to the most vulnerable families, as requested by Lebanese Finance Minister Ghazi Wazneh, on condition that these funds be provided the soonest possible in cash to poor families," Belhaj said following his meeting with Wazni.
Belhaj noted that the social safety net financing plan which is funded by a World Bank loan of 246 million U.S. dollars will be soon implemented by the finance ministry.
The World Bank approved, earlier this year, the loan to establish the financing plan aimed at helping the most vulnerable families as Lebanon has been going through its worst economic and financial crisis with a poverty rate exceeding 50 percent. Enditem
