Jaber from Washington: Strengthening cooperation with the World Bank is a priority for the next phase

Finance Minister Yassine Jaber and the official Lebanese delegation concluded their participation in the Spring Meetings of the International Monetary Fund and the World Bank in the US capital, Washington, where they held a series of meetings with officials from the two international institutions, as well as donor parties and a number of friendly countries.

The talks addressed ways to support Lebanon financially and economically at the current stage, in addition to following up on reform and recovery files, amid the challenges the country faces at all levels.

In this context, Jaber said that “the discussions in those meetings focused on the economic and financial developments in Lebanon, the importance of continuing constructive dialogue between Lebanon, the Fund and the Bank, as well as discussing the priorities of the next phase and the reforms required to enhance stability and restore confidence.”

He described the meetings as “positive and constructive,” noting the international parties’ confirmation of “the World Bank’s commitment, along with all the parties the delegation met, to continue supporting Lebanon during this delicate phase, not only through existing projects, but also by accompanying the priorities of the Lebanese state on the path of recovery and reconstruction.”

He also pointed to “the importance of prioritizing the current portfolio of projects financed by the World Bank, whose value exceeds $1.3 billion, and working to direct it in line with emerging needs, particularly those related to rehabilitating infrastructure and basic services and strengthening social resilience, while stressing the need to provide additional grant funding to support affected Lebanese communities, and to give special priority to the housing sector, given the urgent need it represents in the post-war phase, in addition to its essential role in supporting social and economic stability.”

Jaber concluded by stressing that “Lebanon is looking forward to a renewed partnership with the World Bank, based on flexibility and rapid response, and taking into account the scale of the economic, humanitarian and developmental challenges Lebanon currently faces. The main objective is to mobilize support for Lebanon to respond to urgent needs, enhance economic and social stability, and move forward on the path of recovery.”