Saudi Ambassador Calls on the Lebanese to Elect a President

Saudi Ambassador Calls on the Lebanese to Elect a President
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Saudi Ambassador Calls on the Lebanese to Elect a President

Saudi Ambassador Calls on the Lebanese to Elect a President

The Saudi Ambassador to Lebanon, Walid al-Bukhari, renewed his call to speed up the Lebanese presidential elections.

Bukhari met Lebanese Minister of Foreign Affairs Abdallah Bou Habib on Monday during his tour with Lebanese political figures.

"We share the same desire with the international community to see the completion of the presidential elections [in Lebanon] as soon as possible," Bukhari stressed following the meeting.

"I want Lebanon to be, as it was, an oasis of thought and culture of life, and for its people to enjoy prosperity."

Meanwhile, political parties are yet to agree on the presidential candidates. The Shiite duo of Hezbollah and the Amal movement support the head of the Marada Movement, Suleiman Frangieh, while the opposition still needs to agree on a candidate.

If the head of the Free Patriotic Movement, Gebran Bassil, joins the opposition in rejecting Franjieh's candidacy, it would be reflected positively in their favor.

Sources of the Lebanese Forces party stressed that the opposition parties are in talks to unify their position, confirming they have yet to agree on a nominee.

They told Asharq Al-Awsat that if the Lebanese Forces could agree with the Free Patriotic Movement, they would secure the parliamentary majority with over 65 votes.

However, they indicated that Bassil has made a decision, realizing that agreeing with the opposition puts Hezbollah before the fait accompli. He is trying to ensure Hezbollah would back down from supporting Frangieh.

The sources renewed their call on Speaker Nabih Berri to hold open sessions to elect the president.

They believe holding open sessions would lead to naming a candidate who embodies the aspirations of the Lebanese and not a candidate of the axis of resistance.

They accused the axis of resistance of misleading the public, claiming a positive atmosphere in favor of its candidate, despite local and international conditions.

Asked about the Lebanese Forces' boycott of the election session if it favored Frangieh, the sources indicated that the other parties couldn't have more than 50 votes.

The opposition is currently divided between supporting former ministers Jihad Azour and Ziad Baroud, army commander General Joseph Aoun, and former lawmaker Salah Honien.



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)
TT

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.