NNA - Minister of Economy and Trade Amin Salam on Tuesday met with the Executive Director and Dean of the Board of Executive Directors of the World Bank Group, Dr. Mirza Hassan, and the new Director of the World Bank Group in the Mashreq section, which includes Iran, Iraq, Jordan, Syria and Lebanon in the Middle East, in addition to the North African region, Mr. Jean-Christophe Carré. They discussed World Bank projects in Lebanon, specifically the start of the implementation of the emergency loan for the purchase of wheat and the food security strategy.

The Bank's team reviewed with Minister Salam several projects, especially food security projects, for which the World Bank allocated more than thirty billion dollars. Lebanon was one of the first countries to benefit from the first food security loan in the world. The Dean of the Board of Directors informed Salam the approval of the Bank to provide a grant to the Ministry of Economy and Trade to develop an economic and social food security strategy for Lebanon. 

This strategy that the ministry will work on with the World Bank Group will address four priorities:

Facilitate increased trade: remove policies that impede export and import operations, industrialize food crop conversion, discourage unnecessary storage, and commit to avoid export restrictions that increase food prices and import restrictions that discourage production.

Supporting Families Most in Need: Expanding Targeted and Nutrition-Responsive Social Protection Programs and Replenish Early Response Funding Mechanisms.

Investing in sustainable food and nutrition security: Strengthening food systems to make them more resilient to growing risks (conflict, climate, pests, disease), trade disruption, economic shocks – and balancing immediate/short-term needs with long-term investments.

Supporting production and producers: Take action to boost agricultural production for the coming season by removing barriers to agricultural supply trade, focusing on raising fertilizer efficiency, and redirecting policies and public expenditures to better support farmers and agricultural production.

Salam thanked the World Bank's great support for this major file and stressed the keenness of the ministry and the government to adopt a comprehensive approach in improving and developing food security in Lebanon by enhancing the enabling environment, developing infrastructure, and building technical and administrative capacities. He stressed in particular the support of Lebanese farmers and the importance of benefiting from technology to promote agro-industries. 
Minister Salam said: If combined, the agriculture and technology sectors can create jobs, great economic opportunities, help innovate and channel the energies of young people productively. We are committed to working and partnering with the World Bank to achieve long-term sustainable growth in Lebanon. We will work with development partners to stimulate private sector growth and help promote sustainable food security and stability.

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