Finance Minister, World Bank’s Ghanem discuss joint projects

Finance Minister, Ali Hassan Khalil, welcomed on Friday chairman of the World Bank Group for the Middle East and North Africa region, Hafez Ghanem, who visited him with an accompanying delegation. Talks between both sides reportedly focused on joint projects between Lebanon and the World Bank.

The partnership between the World Bank and Lebanon is a strong and robust one. In Lebanon, we have $1 billion and $400 million worth projects that are being implemented, the World Bank’s Ghanem said.

“We have discussed with the Minister of Finance the World Bank projects in Lebanon, and we broached a number of new projects that the bank could finance in Lebanon. We also touched on the impending World Bank projects in Lebanon in 2018 which amount to approximately $800 million. Therefore, as an international bank, we are committed to partnering with Lebanon and are very happy with the results and working with the Lebanese government, Ghamen added.

He went on to make clear that the World Bank’s priority in Lebanon is to implement projects relating to social, educational, health, transport and road issues. Future projects will be implemented in the areas of infrastructure, he added.

The pair also discussed the means to attract private sector investments in infrastructure, especially in the energy field.

We are working with Lebanon in the area of finance, and also in the area of economic reform to attract investors from the private sector, Ghanem explained.

“Our role is based on economic development, and we are working with Lebanon to promote this development. In our view, the most important goal for the government and its partners, such as the World Bank, is to increase employment, especially among young people, Ghanem concluded.

Source: National News Agency