Hochstein to Visit Beirut Seeking to Ease Israel-Lebanon Tensions

US Senior Advisor for Energy Security Amos Hochstein meets with Lebanon's caretaker Prime Minister Najib Mikati in Beirut, Lebanon June 14, 2022. REUTERS/Mohamed Azakir/File Photo
US Senior Advisor for Energy Security Amos Hochstein meets with Lebanon's caretaker Prime Minister Najib Mikati in Beirut, Lebanon June 14, 2022. REUTERS/Mohamed Azakir/File Photo
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Hochstein to Visit Beirut Seeking to Ease Israel-Lebanon Tensions

US Senior Advisor for Energy Security Amos Hochstein meets with Lebanon's caretaker Prime Minister Najib Mikati in Beirut, Lebanon June 14, 2022. REUTERS/Mohamed Azakir/File Photo
US Senior Advisor for Energy Security Amos Hochstein meets with Lebanon's caretaker Prime Minister Najib Mikati in Beirut, Lebanon June 14, 2022. REUTERS/Mohamed Azakir/File Photo

Senior White House advisor Amos Hochstein is expected to arrive early next week in Beirut for talks with Lebanese officials as part of efforts to appease the situation along the Israel-Lebanon border.
On Sunday, unnamed informed sources told Asharq Al-Awsat that Hochstein’s talks with Lebanese officials will “carry new developments” regarding his shuttle discussions between Tel Aviv and Beirut in parallel with the efforts aiming for a ceasefire in Gaza.
Hochstein had visited Beirut in January in a bid to explore the possibility of talks on drawing the land border between Lebanon and Israel, after having mediated a 2022 deal setting the maritime borders between the two countries.
After meeting several officials then, he said that “we are living a moment of crisis”, and that there is a great need to find a diplomatic solution.
He stressed the need for reaching a diplomatic solution that allows Lebanese people to return to their homes in the south, and the Israelis to return to their homes in the north.
Hochstein’s talks with officials in Lebanon focused on the need for a ceasefire and the implementation of UN resolution 1701, in addition to Hezbollah’s withdrawal from the area between the border and the Litani River.



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.