According to bank documents, the project objective is to ensure the availability of wheat in Lebanon, in response to the economic impact of the conflict in Ukraine, and to maintain access to affordable bread by poor and vulnerable households.
The project has three components:
Component 1 will finance immediate wheat purchases to avoid the disruption of imports in the short term, and its dire socioeconomic implications. This will be done in accordance with Bank Policy on Investment Project Financing and its special considerations for Projects in Situations of Urgent Need of Assistance or Capacity Constraints. No retroactive financing is foreseen.
Component 2: Project management and capacity building
Component 3: Contingent Emergency Response Component (US$0): In recognition of Lebanon’s current significant vulnerability to shocks, a CERC with no funds is included in accordance with the World Bank policy on Investment Project Financing for contingent emergency response to an eligible crisis or emergency, as needed. This component will allow the GOL to request the World Bank for rapid reallocation of the project funds to respond promptly and effectively to an eligible emergency or crisis that is a natural or man-made disaster or crisis that has caused or is likely to imminently cause a major adverse economic and/or social impact. If the World Bank agrees with the determination of the disaster and associated response needs, this component will draw resources from the categories financing Components 1 and 2, and/or allow the GOL to request the World Bank to recategorize and reallocate financing from other project components to cover emergency response and recovery costs.
Senior Agriculture Economist
Ministry of Finance
Ministry of Economy and Trade
Minister of Economy and Trade
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