World Bank approves $300 million financing to help poor people in Lebanon

BEIRUT (AP) — The World Bank has approved a $300 million additional financing to Lebanon’s poor, giving cash to families struggling in the country’s historic economic meltdown. The World Bank’s financing announced Friday comes two years after it approved a $246 million loan to Lebanon to provide emergency cash assistance. The World Bank said the new financing will provide cash transfers to 160,000 households for 24 months, including those currently receiving help. Lebanon is in the throes of the worst economic and financial crisis in its modern history. The meltdown began in late 2019.