World Bank Pledges $950 Million in Loans to Middle East
The World Bank committed $950 million worth of loans to the Middle East and North Africa in the year ending June 30th, $136.6 million of which was earmarked for Lebanon, reported the Daily Star.
This brings the total loans committed to the region by the bank to $33.8 billion, said the Lebanese paper.
According to a press release issued by the World Bank on Friday, Lebanon's share of this total reached $920 million across 17 projects, reported the Daily.
Most of the World Bank's loans to Lebanon and the region were aimed at financing agriculture, environment and infrastructure projects, said the Daily.
Iran, which had not received any loan from the World Bank since 1994, was the largest borrower in the region in the year ending June 30th, 2000, with commitments totaling $232 million for supporting two projects, the daily reported, adding that Tunisia and Lebanon came second and third respectively – Albawaba.com
© 2000 Al Bawaba (www.albawaba.com)