World Bank approves $200 million to tackle challenges faced by Lebanese farmers

In Lebanon, farmers are grappling with many issues, including illegal competition, smuggling, market closures, and the soaring costs of fertilizers, pesticides, and diesel for irrigation.

Recognizing that the agricultural sector serves as a lifeline for approximately 20 percent of the Lebanese population, primarily the impoverished, the Board of Directors of the World Bank has approved $200 million in funding.

This financial injection aims to enhance the capabilities of farmers, small and medium-sized enterprises, support the green transformation project, improve productivity, and facilitate the access of agricultural products to markets. Details regarding registration and eligibility will be announced at a later stage.

Moreover, the project is set to benefit around 80,000 farmers, roughly 50 percent of the entire farming community in rural areas across Lebanon. Additionally, it will secure 2,200 job opportunities and improve services and infrastructure in approximately 110 municipalities.

To ensure effective implementation, a steering committee comprising ministers of agriculture, energy and water, economy, and trade will oversee project activities. Loan management responsibilities will be entrusted to a guarantees company, while the Ministry of Agriculture's green project will handle infrastructure execution.

An independent monitoring entity will oversee the execution of contracted agreements, and an independent auditor will scrutinize all project operations to ensure transparency and accountability.

To address any complaints or injustices, the World Bank will establish a mechanism to ensure appropriate actions are taken promptly upon receipt of any criticisms.