South-Africa: World Bank approves $200 million to help Lebanon’s vulnerable

The crisis left most of the population below the poverty line, with the local pound battered and depositors locked out of their savings accounts at commercial banks.

The World Bank has ranked the collapse as one of the worst globally since the mid-19th century. It has already stepped in to help support a social safety net system and on Tuesday announced the additional $200 million to support the initiative.

It will provide cash transfers to poor Lebanese households and increase access to economic opportunities and social services, particularly for women, youth, and the vulnerable.

The financing is part of a bigger package that also includes $150 million earmarked for a digital acceleration project to improve access to
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