Sep 09 2021 - 06:37

Lebanon launches cash subsidy cards for families-[REPORT]

Lebanon's caretaker minister of social affairs on Thursday announced Lebanon, news ,lbci ,أخبار Poverty, Economy, Subsidy Card, Crisis,Lebanon,Lebanon's caretaker minister of social affairs on Thursday announced
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Lebanon News
Lebanon's caretaker minister of social affairs on Thursday announced the launch of cash cards for over 500,000 families, a planned step to further curb a $6 billion subsidy program that has heavily depleted foreign reserves.
Lebanon's financial crisis has been described by the World Bank as one of the deepest depressions of modern history.
The United Nations Economic and Social Commission for West Asia (ESCWA) estimates the crisis has so far propelled 78% of the population into poverty.
"It is true that an exceptional item has been allocated in the budget for this, but we are also trying to get funding from a World Bank loan targeting infrastructure and labor and also from the IMF's special drawing rights known as SDRs," minister Ramzi Moucharafieh said.
The government introduced a subsidy program financing the import of basic goods such as wheat, fuel and medicine last year. Critics said it was bloated, ill-managed and wasteful, and it is now being phased out.
Moucharafieh said the cash card, which will give each recipient family around $93 a month, was designed to reach those most in need and prevent waste,
Parliament approved the cash payments, estimated to cost around $556 million, in June. 

For his part, Caretaker Minister of Economy Raoul Nehmeh said that submission of applications for the card starts on September 15 until October 31, adding that those who do not have an ID card must secure it and register later with a deadline until the end of the year 2021.


He also explained that citizens can call the hotline number 1747 for any assistance in the registration process, adding that all families can register in the program without exception.

To watch the full report, please click on the video above. 

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