Lebanon negotiates with World Bank for $300 Million loan

Published June 12th, 2001 - 02:00 GMT

Lebanese Prime Minister Rafiq Hariri met with World Bank officials on Monday, June 11, to negotiate the use of previously agreed loans worth $300 million (€355 million), an official source said. 


The talks, due to last two days, were held between Hariri, the regional World Bank head Joseph Saba and its director in Lebanon, Hari Prasad, the source said. 


Lebanon has only used $200 million out of the $600 million agreed by the World Bank over the past seven years. The current negotiations are over $300 million of the remaining $400 million. 


After a meeting in Paris in February during which Hariri pledged to undertake major economic reforms, the World Bank and the European Union agreed to provide financial assistance for Lebanon, whose public finances are in a poor state. ― (AFP, Beirut) 


© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)

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