Delayed cash aid to be paid to Lebanon's poor in two weeks: minister

Delayed cash aid to be paid to Lebanon's poor in two weeks: minister
A financial welfare card that could help Lebanon's poorest families should be ready in a couple of weeks after it was put off due to 'technical difficulties' and a new government formation.
2 min read
15 October, 2021
Subsidies on fuel have been lifted, making the socioeconomic situation even harder. [Getty]

Lebanese Economy and Trade Minister Amin Salam said on Thursday that he expected to start processing applications for citizens wishing to obtain a financial welfare card in less than two weeks.

The project was set to begin weeks ago but put on hold due to a new government being formed. It was approved by parliament at the end of June.

Salam noted that technical issues related to the program were still unresolved at his ministry since he took over last month, adding that the three ministries involved – the economy, finance and social affairs – were working on its final touches.

"Around two weeks or 10 days ago, we reached a final formula… on implementing the card (program). A complete mechanism was agreed on in coordination with international agencies whose role will be essential in financing. We have overcome this dilemma," he said.

He hoped that the program will be ready in less than two weeks when citizens can start applying either online, over the phone or at their nearest social affairs office.

With poverty on the rise in Lebanon due to the economic meltdown, the so-called finance card will cover 750,000 Lebanese families.

The Central Bank gradually began lifting subsidies on vital products such as fuel in August - which it had been financing for decades - worsening the already difficult socioeconomic conditions for the country's poorest families.

The decision came due to dwindling foreign currency reserves amid Lebanon’s worst ever financial crisis. Lebanon's currency has been in free fall since late 2019.

The payment in US dollars aims to protect they country's most vulnerable in case the Lebanese pound drops further in the future.

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