NNA - Economy and Trade Minister, Amin Salam, on Monday said in a press conference that he had received the official approval of the World Bank’s board of directors for an emergency loan to support wheat import to Lebanon. 

“This press conference aims to disclose some positive news, especially concerning food security, on top of which is the issue of importing wheat. As you may know, we have been working with the World Bank for nearly a month on an agreement for a subsidized loan to Lebanon worth USD 150 million dollars to create a kind of stability by providing bread bundles at subsidized prices,” Salam said. 

He added, "The most important thing is to rationalize bread subsidies in Lebanon. (…) Steps must be taken within the coming few weeks to clarify the mechanism that will be implemented in order to rationalize bread subsidies in an attempt to secure materials and preserve the stability of the bread bundle for a period of approximately nine months.” 

===========R.H.