Algeria Elected to UN Security Council, Among 5 New Members

Algerian President Abdelmadjid Tebboune. (AFP)
Algerian President Abdelmadjid Tebboune. (AFP)
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Algeria Elected to UN Security Council, Among 5 New Members

Algerian President Abdelmadjid Tebboune. (AFP)
Algerian President Abdelmadjid Tebboune. (AFP)

The United Nations General Assembly elected Algeria, Guyana, Sierra Leone, Slovenia and South Korea to the UN Security Council on Tuesday for two-year terms starting January 2024.

The five countries elected will replace Albania, Brazil, Gabon, Ghana and the United Arab Emirates.

The election of Algeria as non-permanent member of the UN Security Council is a diplomatic success that shows Algeria is “back on the international stage”, said a statement from President Abdelmadjid Tebboune.

The development reflects the international community's respect and esteem for the president, it added.

The North African nation will start its term as a non-permanent member of the Security Council on January 1, 2024 after the vote of 193 member states of the UN.

The election is also a renewed opportunity for Algeria to reaffirm its principles and values, and to exchange its vision on issues related to international peace and security, the presidency statement said.

It added that Algeria is determined to focus its efforts to boost international peace and security and strengthen key partnerships. It is keen on promoting the principles and values of non-alignment, continuing efforts to combat terrorism, and enhancing the participation of women and youth in these international efforts.

“Algeria will also be keen to make the voice of Arab and African countries heard and to defend common strategic interests in various issues that fall within the jurisdiction of the Security Council,” it said.

On this occasion, Algerian authorities expressed their “sincere thanks and deep gratitude to the African Union, the Arab League and the Organization of Islamic Cooperation, for their adoption and generous sponsorship of Algeria’s candidacy.”



World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
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World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)

The World Bank is looking to free up emergency funds for Lebanon, potentially including up to $100 million through the use of special clauses in existing loan deals, its managing director of operations told Reuters.

The Washington-based development lender currently has $1.65 billion in loans to the country including a $250 million loan approved this week to help connect dispersed renewable energy projects in the country.

Amid fighting across southern Lebanon, the bank was currently discussing ways in which it could help support the economy, including through the use of so-called Contingent Emergency Response Component (CERCs) clauses.

"We can use our existing portfolio and free up some money for really critical, short-term liquidity needs," Anna Bjerde said.

CERCs are present in around 600 of the bank's existing projects, globally, and allow it to redirect funds that have yet to be disbursed, if requested to by a government, for example after a health or natural disaster, or during conflict.

Lebanon has yet to make such a request, Bjerde said.

After a year of exchanges of fire between Hezbollah and Israel mostly limited to the frontier region, the conflict has significantly escalated in Lebanon.

Hezbollah fired rockets at Israel's third largest city Haifa on Monday, while Israeli forces looked poised to expand ground raids into south Lebanon on the first anniversary of the Gaza war, which has spread conflict across the Middle East.

Lebanon's government could choose to use an existing social protection program that was put in place during the COVID-19 pandemic that allows for financial support to be sent to individuals, Bjerde said.

"It has the benefit of being totally digital so you can reach people, plus it can be verified a bit... so we will also probably use that to top up the social safety net for those that are particularly affected."

Up to 1 million people have been internally displaced in the country, she added: "So it's important we focus on that".

Lebanon's finance ministry and economy ministry did not immediately respond when asked for comment.