WORLD World Bank says links level of support for Lebanon to gov't reforms

WORLD

World Bank says links level of support for Lebanon to gov't reforms

Xinhua

23:15, February 07, 2020

BEIRUT, Feb. 7 (Xinhua) -- A World Bank senior official said on Friday that the World Bank will determine the level of its support for Lebanon on the basis of how its government will implement reforms, LBCI TV Channel reported.

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File photo: CGTN

"We are all waiting for the government's reform program and accordingly the World Bank will determine how it can support the Lebanese people," said Saroj Kumar Jha, regional director of the Mashreq Department at the World Bank Group, during his meeting with Lebanese Finance Minister Ghazi Wazne.

"It is necessary for the new government to embark ... on an ambitious reform program and serious steps within specific deadlines," he added.

One of the major reforms the World Bank expects to see in Lebanon involves its electricity sector which is imposing a heavy burden on the cabinet's treasury, Jha noted.

The Lebanese parliament is expected to vote on the ministerial statement prepared by the cabinet next week to enable the new government to start serious reforms to save the country's deteriorating economy and public finance.

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