Lebanon to lose $600m in World Bank projects

Lebanese Finance Minister Ali Hasan Khalil warned that his country will lose more than 600 million dollars in World Bank projects as long as the parliament remains suspended.

World Bank-funded projects worth 600 million dollars need to be ratified by the Parliament which remains suspended due to the country's political crisis, he said.

In statements on Monday, Khalil said that it is important to form another parliament because the absence of legislation harms the citizen.

He further reiterated that the country has been witnessing a transitional phase which must end quickly, adding that the political powers should shoulder their responsibility to elect a new president.