World Bank

World Bank: $400 Million to Create Jobs in Lebanon

The World Bank Group has approved a new US$400 million project to support Lebanon’s quest to expand nationwide employment opportunities, which have been severely impacted by the influx of Syrian refugees and the recent low growth trend of the economy. The financial package is expected to create 52,000 permanent jobs…

World Bank backs Lebanon’s infrastructure investment program

World Bank delegation said it fully supports an infrastructure investment program being prepared for an upcoming conference on investment in Lebanon. A World Bank delegation Friday said it fully supports an infrastructure investment program being prepared for an upcoming conference on investment in Lebanon. Prime Minister Saad Hariri met with…

Lebanon signs $200 million deal with World Bank for road network upgrade

The Ministry of Finance and the Council for Development and Reconstruction (CDR) signed a $200m deal with the World Bank to finance the Roads and Employment Project in Lebanon, which aims to upgrade the country’s road network and create employment opportunities. The funds consist of a soft loan of $154.6m…

Remittances from expatriates to Lebanon are expected to increase (World Bank)

Remittances from expatriates to Lebanon are expected to increase slightly in 2016, according to the World Bank. In a report on capital inflows published Sunday, the World Bank projected that remittances from expatriates will reach $7.6 billion in 2016 compared to $7.48 billion in 2015, registering an increase of 1.6…

World Bank Cuts 2016 Global Growth Forecast to 2.4 percent

The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows. According to the latest update of its Global…