World Bank Will Now Provide Lebanon With $150 Million For Wheat Supplies

Eric Albrecht/AP | Arab Weekly

The World Bank will provide Lebanon with $150 million of wheat supplies for six months, said Caretaker Minister of Economy Amin Salam on Friday, according to MTV.

“Socially, the country cannot bear lifting subsidies,” said Salam at a press conference and confirmed that subsidies shall be maintained.

Earlier in June, the Bakery Owners’ Syndicate claimed that bakeries in the country are running out of wheat and flour.

On Wednesday, it was reported that bread was being sold on the black market in Nabatieh, South Lebanon for 25,000 LL since bread was unavailable in bakeries due to the shortage of flour.

“We have the funds and credits to guarantee the production of bread,” said Salam. “Credits of more than USD 12 million are currently allocated for this purpose, and more funds are expected,” said Salam.

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