DUBAI: The World Bank has granted Lebanon a $250 million loan aimed at helping alleviate persistent power cuts worsened by last year’s war between Israel and Hezbollah, the country’s finance ministry said on Thursday.
Even before the conflict, Lebanon had for years been struggling with a severe shortage of imported fuel and poor infrastructure.
Following the conflict, however, the World Bank said it would need around $11 billion for reconstruction and recovery.
The fighting between the Iran-backed group and Israel ended for the most part in November through a brittle ceasefire brokered by the United States, though the two sides accuse each other of failing to fully implement the deal.
Lebanon had said it received preliminary approval to increase a World Bank reconstruction loan to $400 million from $250 million. The loan is part of a $1 billion reconstruction program, with the remainder of the financing to come from international aid.
Lebanon receives $250 million World Bank loan to ease power problems
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Lebanon receives $250 million World Bank loan to ease power problems
- The World Bank said Lebanon would need around $11 billion for reconstruction and recovery
Senegalese president meets Kuwaiti crown prince ahead of Abu Dhabi Sustainability Week
- Bassirou Diomaye Faye visits Kuwait and the UAE this week to strengthen his country’s ties with Gulf nations
LONDON: The president of Senegal, Bassirou Diomaye Faye, arrived in Kuwait on Monday for an official visit before traveling on to the UAE to participate in Abu Dhabi Sustainability Week.
Faye, who was accompanied by ministers responsible for national transformation, African integration, foreign affairs, finance and water management, held talks with Kuwait’s crown prince, Sheikh Sabah Khaled Al-Hamad Al-Sabah, on a number of issues, officials said.
The president aims to strengthen ties between Senegal and Gulf countries during his visits to Kuwait and the UAE this week, his office said. And on Jan. 14 and 15 he will take part in the final two days of Abu Dhabi Sustainability Week, described as a significant annual, international event dedicated to addressing the challenges related to sustainable development, energy transition and innovation.
Faye was welcomed on arrival in Kuwait by the country’s prime minister, Ahmad Abdullah Al-Ahmad Al-Sabah; the deputy assistant foreign minister for African affairs, Naif Mohammed Al-Mudhaf; and other officials.
