Aoun ratifies World Bank-funded safety net law

BEIRUT – Lebanese president Michel Aoun ratified on Friday a law to implement the World Bank-funded Emergency Social Safety Net program, the state-run National News Agency reported.

Here’s what we know:

    • The law was passed by Parliament in March, and President Auon’s signature represents the government coming one step closer to paying out the much-needed funds.

    • Prime Minister Najib Mikati has also signed the law, which is implemented when published in the official gazette.

    • The program includes cash transfers to vulnerable families in order to help them meet nutritional needs and to students to help pay tuition expenses.

    • “President Michel Aoun has ratified law 251 concerning a loan agreement with the World Bank to support the social safety net responding to the effects of the COVID pandemic and the economic crisis in Lebanon,” the presidency tweeted.