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The World Bank will grant Lebanon a $250 million loan that will be used to help ease electricity cuts in the crisis-hit country, the country's finance ministry said Thursday.
Lebanon has faced major electricity problems for decades, but the situation became worse following an economic meltdown that began in late 2019. The 14-month Israel-Hezbollah war that ended in late November also badly damaged electricity and other infrastructure in parts of Lebanon.
The state-run National News Agency said the deal between Lebanon and the World Bank was signed in Washington by Finance Minister Yassin Jaber and Jean-Christophe Carret, the bank's regional director.