Tag: Lebanon

World Bank Extends Financial Help To Lebanon Covid-19 Vaccine Plan
Middle East & Africa

World Bank Extends Financial Help To Lebanon Covid-19 Vaccine Plan

One of the poorer nations of the world, Lebanon is now getting a medical financial stimulus from the World Bank, official reports have confirmed. The World Bank has approved $34million to back the Lebanese Covid-19 vaccination drive. 

This is the first such huge outlay of funds by the bank. Previously, Lebanon has taken several loans from the bank to keep its economy from sinking. Since the pandemic broke out, the country has been struggling with the constant outbreaks and an unfortunate burn of a strategic port that led to a major scare and distrust amongst common people over the administration of the government. 

Funds have been reallocated from an existing Lebanon Health Resilient Project.  The Lebanese government has signed up for receiving the American Pfizer vaccine for 2.1 million doses. Lebanon already has a fractured medical system that has been losing its back over a surge in infection rates. 

According to the Lebanon Health Ministry, the vaccines will arrive by February.  These doses will be priced at $18 looking at Lebanon’s financial condition and the whole cost is covered under the World Bank financial assistance. 

Additionally, Lebanon would also receive another 2.7 million doses from the UN-led Covax program that caters to poorer countries like Lebanon, Yemen, Syria and Libya. These doses are expected to arrive no sooner than the mid of the year. These work on the mechanism of richer countries donating a percentage of their doses stocks to the poorer nations, once their own people are inoculated. 

Once known for its advanced medical services in the Middle East, Lebanon today stands to manage its falling bricks. There is a convergence of stresses on the health care system. There are many reasons for this. But the major reasons that stand out include lack of up-to-date infrastructure; lack of medical personnel due to high emigration rates among doctors; and difficulties in obtaining medical supplies due to the devaluation of the Lebanese currency and reduced imports. 

France urges Lebanon to form a new government without further delay
Middle East & Africa

France urges Lebanon to form a new government without further delay

France urges Lebanon to form a new government: The deadline for framing a new government in Lebanon was missed due to the pandemic and the Beirut Port blast. France has urged Lebanon to “accelerate the development of a new and effective government, acknowledged by every political group. A new government is needed to reform and give appropriate leadership amid strains, covid-19, and major economic crises. 

Patrick Durel, The adviser to president Macron for the issues of the Middle East and North Africa, held a series of conferences on Thursday and Friday, with authorities and the tops of the eight parliamentary coalitions, including the delegate of Hezbollah to form a new government asap.

In September, President Michel Aoun also said that the crisis-hit nation could be going to “hellfire” if a good and new administration was not framed soon, recommending it would require a miracle for that to occur now. 

The warning comes as the nation battles to contain an escalating economic and financial crisis that worsens the nation’s economic situation, just as worries of a surge in Covid cases and deaths impact Lebanon. 

The political standstill has subverted a French initiative drove by President Emmanuel Macron for a Lebanese administration of autonomous authorities to enact urgently to bring reform intended to deliver the nation from its ongoing crises. 

On Nov 16, Lebanon’s caretaker FM Ghazi Wazni stated that if the nation’s elite class kept on postponing the forming of the new government and we don’t get financial aid soon, it would be the end of Lebanon, he added.

Wazni backed Macron’s initiative, who promised global financial help to Lebanon in return for anti-corruption reform in the nation. Lawmakers presently haven’t able to propose any of them. 

“President Macron stated ‘we’ll provide you some oxygen, we’ll help you to come of this mess’, or else, this monetary and social situation will continue to intensify. The effect will be on the security, strength, and fate of the nation,” Wazni added. 

The negotiations with the International Monetary Fund (IMF) for financial aid were postponed thus, even though contact proceeds, Wazni added. 

However, for a long time, the PM assigned and Saad Hariri have been trying to negotiate with the political parties about how to divide ministries, but due to the pandemic and the port blast has hit the nation badly.

Critics state that despite public proclamations of help for Macron’s drive and reform, Lebanon’s government officials have returned to obtain as much influence as plausible.

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