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WFP to allocate $5.4 billion for Lebanon over 3 years, caretaker PM says

Tuesday, November 22, 2022
WFP to allocate $5.4 billion for Lebanon over 3 years, caretaker PM says © Reuters. FILE PHOTO: Lebanon's caretaker Prime Minister Najib Mikati gestures as he attends an interview with Reuters at the government headquarters in downtown Beirut, Lebanon September 30, 2022. REUTERS/Mohamed Azakir

BEIRUT (Reuters) -The World Food Programme has agreed to allocate $5.4 billion in aid for Lebanon over the next three years, Lebanese caretaker Prime Minister Najib Mikati said, as the country's economic crisis keeps millions in poverty.

Mikati said half of the aid would go to Lebanese and half to Syrian refugees, more than 1 million of whom live in Lebanon according to government estimates. Previously, 70% of the aid went to Syrian refugees and 30% to Lebanese, he said.

The WFP's Lebanon office could not immediately be reached for comment.

WFP Representative and Country Director in Lebanon Abdallah Alwardat met with Mikati on Monday and said after the meeting that the aid would include in-kind help and cash assistance, according to a statement from Mikati's office.

The United Nations agency would provide 1 million refugees and 1 million Lebanese with cash assistance in the country of 6 million, he said.

Formerly a middle-income country, Lebanon is now gripped by a crisis that the World Bank has deemed one of the worst since 1850 - a result of decades of corruption and economic mismanagement that culminated in a 2019 financial meltdown.

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26-11-2022 18:55:19 (UTC+7)

EUR/USD

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EUR/USD

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 EUR/USD1.0402Neutral
 GBP/USD1.2095↑ Buy
 USD/JPY139.12Neutral
 AUD/USD0.6751Neutral
 USD/CAD1.3377Sell
 EUR/JPY144.66↑ Sell
 EUR/CHF0.9835Neutral
 Gold1,755.00Sell
 Silver21.480↑ Buy
 Copper3.6175↑ Buy
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 Natural Gas6.802↑ Sell
 US Coffee C164.40↑ Sell
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 FTSE 1007,486.67↑ Buy
 Hang Seng17,573.58Neutral
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 IBEX 358,416.60Sell
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