World Bank Says Lebanon on Right Track Regarding Reforms, Urges ‘Vigor’ in Investment Projects
Prime Minister Saad Hariri met at the Center House with the World Bank Vice President for Middle East and North Africa Ferid Belhaj, accompanied by the Bank’s Regional Director for the Mashreq, Saroj Kumar Jha.
After the meeting, Belhaj said: “We met with Prime Minister Hariri after meeting with the Minister of Finance, Ali Hassan Khalil. They were constructive meetings and our impression is positive. Lebanon is on the right track regarding the reforms in the budget and electricity. We are optimistic about this, but reforms are a continuous process that does not end. We are with the Lebanese government in moving forward in these reforms, especially in electricity that is a vital issue.
“We also discussed the World Bank projects that are in the bank’s portfolio. These projects need to be worked on with more vigor and support because we have more than $2.4 billion in the World Bank's portfolio today, $1 billion of which are not in a positive position. The government should work harder to complete these projects because they are investment projects and this investment is positive.”
He added: “In general, our impression is positive and we are optimistic. But at the same time our optimism is cautious due to the economic situation in the region, which is delicate. We have to be at the level of responsibility. Our interaction with the Lebanese government is positive and we hope that the coming days will be good.”
Hariri also met with a delegation from the International Monetary Fund, headed by the IMF’s head of mission for Lebanon Chris Jarvis. They discussed the economic and financial situation and the preparation of the annual report of the IMF. The delegation stressed the importance of Lebanon speeding up the launching of the CEDRE projects and the investment spending, which would stimulate growth and create jobs opportunities.
Hariri also received the Head of Mission and Force Commander of the United Nations Interim Force in Lebanon, General Stefano Del Cole, in the presence of the permanent representative of Lebanon to the United Nations Ambassador Amal Mudallali and Hariri’s military Advisor Brigadier General Maroun Hitti. Discussions tackled the security situation in the south and UNIFIL's missions.
Source: Naharnet
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