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World Bank to allow Lebanon to borrow $550m
- Lebanon: Thursday, September 02 - 2010 at 10:08
The World Bank has said an agreement has been reached with Lebanon that allows the country to borrow between $375m and $550m over the next four years to fund its economic and social programmes, Reuters has reported. "It offers an opportunity to improve social inclusion and the provision of quality public services, while addressing debt management and fiscal stability," Shamsad Akhtar, vice president for the Middle East and North Africa said. Lebanon's economy has repeatedly proven resilient in the face of crises over the last several years but that "sustained high growth" was necessary to achieve "fiscal space and debt sustainability@, the World Bank said.
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StaffThursday, September 02 - 2010 at 10:08 UAE local time (GMT+4)
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