Salam receives French envoy to discuss banking restructuring project 'final phase'

Prime Minister Nawaf Salam met on Tuesday at the Grand Serail with Jacques de Lajugie, the French presidential special envoy for economic affairs in Lebanon, to discuss the "final phase" of the banking restructuring bill.

According to a statement released by the state-run National News Agency (NNA), the meeting focused on "the latest developments in Lebanon's economic reform process, particularly the financial restructuring bill."

Salam said the project "has entered its final phase," noting that it "aims, on one hand, to protect depositors' rights and ensure the swiftest possible return of their deposits, and on the other hand, to reaffirm Lebanon's commitment to required reform standards."

Meanwhile, President Joseph Aoun also held meetings on the country's economic affairs with Finance Minister Yassin Jaber and the World Bank's Middle East representative, Abdelaziz al-Munla.

Still, according to the NNA, they discussed ongoing preparations for the upcoming visit of a high-level World Bank delegation to Lebanon to review files and projects funded by the World Bank as part of bilateral cooperation.

At the end of August, a $250 million loan agreement was signed between Lebanon and the World Bank to finance the reconstruction of infrastructure — including roads, water, electricity and health — in areas affected by the war between Israel and Hezbollah. The deal still needs to be ratified by Parliament.