BEIRUT—The World Bank on Monday approved a $150 million loan to help Lebanon fund wheat imports and keep bread prices stable for nine months, the country’s economy minister told Reuters.
The program, known as the Lebanon Wheat Supply Emergency Response Project, still needs approval by the country’s cabinet and parliament, said Amin Salam.
A World Bank spokesperson said the loan aimed to “finance immediate wheat imports to avoid the disruption in supply over the short term and help secure affordable bread for poor and vulnerable households including … refugees in Lebanon.”
Lebanon is heavily reliant on food imports and pays for them in dollars, which have become increasingly difficult to obtain since its economy crashed in 2019.
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