MPs In Lebanon Approve $120m Loan From World Bank To Fight Covid-19

Three-day parliament sitting held in Beirut conference hall amid anti-government protests outside
Lebanon has approved a $120 million loan from the World Bank to help fight Covid-19, which has officially infected 677 people and killed 21 nationwide.
MPs gave their approval during a parliament sitting on Tuesday, which was held in a conference hall to allow for social distancing between lawmakers amid the coronavirus pandemic, while outside anti-government protesters demonstrated in a car convoy.
Also on the agenda of the three-day session were proposals for a divisive general amnesty, to legalise cannabis for medical use, and to lift immunity for ministers and lawmakers to allow prosecutions over alleged corruption.
Outside the venue, dozens of protesters drove a noisy convoy of cars covered in slogans, drivers honking their horns and passengers brandishing the national flag and leaning out of the windows in face masks.
They defied a stay-at-home order to protest deteriorating living conditions and maintain pressure on a political elite under fire since mass protests erupted last October.
Lebanon is grappling with its worst economic crisis since the 1975-1990 civil war, compounded by the lockdown, and poverty has risen to 45 percent of the population according to official estimates.
The rallies had petered out after a new government took office in January, and demonstrators have mostly remained at home since the coronavirus lockdown started mid-March.
But on Friday, hundreds again protested in the city of Tripoli to mark six months since the street movement started to demand an overhaul of a ruling class widely deemed inept and corrupt.
Emicool Secures First-ever Green Financing To Boost Sustainable Growth
The liquidity generated will be strategically deployed to accelerate the company’s district cooling projects across t... Read more
UAEs Ruya Becomes First Global Islamic Bank To Offer Shariah-compliant Crypto Trading
Digital Islamic bank ruya teams up with Fuze to offer secure, ethical crypto investments aligned with Islamic financial... Read more
Startups In Abu Dhabis Hub71 Secured $2.17bn In Funding Last Year
Hub71 startups in Abu Dhabi saw massive increase in funding in 2024 as innovation economy thrives Read more
UAE Fintech Pay10 First To Launch On Central Banks Open Finance Framework
The company has acknowledged the Central Bank of the UAE's crucial role in facilitating a responsible and secure rollou... Read more
PayPal Expands In MEA Region With Its Newly Launched Hub In Dubai
Will serve 80 countries in Middle East and Africa from its Dubai Internet City hub; Has signed several deals with regio... Read more
New Board Certifies DMCC Tradeflow As Fully Shariah Compliant
Shariah Supervisory Board appointed to oversee Tradeflow’s Islamic finance offering; Certified fully-compliant with A... Read more