Lebanon’s political turmoil is delaying the disbursement of $900 million in World Bank aid, hurting the country’s ability to cope with the influx of Syrian refugees.
The funds are ready but the political vacuum in the absence of a president and a functioning parliament is delaying their release, World Bank President Jim Yong Kim said on Thursday in Beirut. “The money is waiting,” he said.
Lebanon has been without a head of state since President Michel Suleiman’s term expired in May 2014. Parliament hasn’t convened in months, as political squabbles have become proxies for broader regional conflicts.