World Bank allocates $300 million to Lebanon for its 'social safety net'

The World Bank allocated an additional $27 million on Saturday, May 300 to "strengthen the social safety net" in Lebanon, hit by a multifaceted crisis that has pushed more than 80% of the population into poverty.

The headquarters of the World Bank in Washington. © Andrew Harnik / AP

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With our correspondent in Beirut, Paul Khalifeh

The "social safety net" was established in Lebanon in January 2021 to help segments of the population that have sunk into extreme poverty as a result of the crisis that hit the country two years earlier. 82,000 households benefited from this program, for which $240 million was initially released by the international institution. The new $300 million grant will bring the number of beneficiaries to 160,000 households for two years, or nearly one million people.

Help for the poorest

Eligible families will receive a monthly lump sum of $25, in addition to $20 per household member, up to six in total, for a monthly fee of $145. Some 92,000 students will receive additional assistance of up to $425 per year to cover school fees and supplies.

This program called Aman is the most important response to the crisis implemented by international institutions in cooperation with the Lebanese authorities. It provides the poorest Lebanese with basic food needs and access to other basic services. This project has enabled almost one sixth of the population, who have lost everything as a result of the crisis, not to sink into total poverty.

Also listen: International report - Lebanon: pensioners are also impacted by the crisis

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  • Lebanon
  • World Bank
  • Economy