Lebanon agrees to pay World Bank loan to the poor in dollars

BEIRUT (AP) — Lebanon’s government has agreed to pay tens of thousands of poor families cash assistance in U.S. dollars from a World Bank loan as the country’s economic crisis deepens. Monday’s decision comes as Lebanon is expected to end subsidies for fuel by the end of next month, which is expected to lead to sharp increase in prices of almost all products. Lebanon’s parliament approved in March a $246 million loan from the World Bank that would provide the assistance for more than 160,000 families. But the move had been delayed over the government’s insistence on paying it in Lebanese pounds.