Beneficiaries will be able to access their funds via ATMs using pre-paid cards that get recharged every month. They can also make electronic payments.
The ESSN funds will also cover school expenses for up to 87,000 children between 13-18 years. Tuition fees will be paid directly to the students’ schools.
“I will ensure that the funds allocated are distributed transparently and fairly to the most vulnerable families,” stated President Michel Aoun.
It’s worth noting that the World Bank was initially planning to provide funds to beneficiaries in USD, but the Lebanese government decided that the beneficiaries receive the cash transfer in LBP.
The conversion rate adopted will be 1.6 times the rate set by the BDL ‘Sayrafa’ app, currently of 3,900 LBP/USD.
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