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World Bank allocates $300 million to enhance social safety nets for impoverished Lebanon households

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The World Bank has approved an additional $300 million in financing for the Emergency Social Safety Net Support Project in response to the COVID-19 Crisis and Pandemic in Lebanon (ESSN project).

This additional funding will allow the continuation and expansion of cash transfers to the poorest and most vulnerable Lebanese families, and will support the development of a unified social safety net better able to respond to current and future shocks.

This new $300 million package represents the second additional funding for the ESSN Social Safety Net Project ($246 million) approved in January 2021 to support Lebanon in dealing with the impact of the economic crisis and the COVID-19 pandemic on the poorest and poorest strata of the population. vulnerable groups of the population. The project has already received additional first funding of $4 million in May 2022.

The second additional funding will allow Lebanon to continue to protect its population from the impact of various crises, and will also help the country develop a targeted digital social “safety net” system.

Going forward, Lebanon will need to secure the necessary financial space to fund the long-term needs of the social protection sector, including social safety nets.

Source: “An-Nahar”

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