The IMF has approved the first IMF finance for Lebanon, backing a USD 77 million emergency loan to help rebuild the country after last year’s conflict with Israel. Mohsin Khan, director of the IMF’s Middle East and Central Asia Department, said the loan, issued as emergency post-conflict assistance (EPCA), would be available to Lebanon shortly. None of the USD 7.6 billion in aid and loan pledges won by Lebanon at a January Paris donors conference after the 34-day war last July, has yet been paid. Some donors, including the European Commission and World Bank, require IMF involvement before they can hand over any funds. (Reuters)
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