World Bank, EU, UN to give Lebanon aid in US dollars

Representatives of the European Union, United Nations and World Bank said they “take note of the verbal agreement” on Feb. 22 by the Central Bank chief and deputy prime minister for aid to be disbursed in U.S. dollars.

Lebanon’s parliament last week approved a $246 million World Bank loan for a social safety net. According to the loan agreement, it would be handed out in Lebanese pounds. (Reporting by Timour Azhari @timourazhari Editing by Belinda Goldsmith Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly.

Source Link: https://www.reuters.com/article/lebanon-aid-coronavius/world-bank-eu-un-say-agreement-to-give-lebanon-aid-in-us-dollars-idUSL8N2LF3X7