Hafez Ghanem, Vice President of the World Bank for the MENA region, speaks during an interview in Beirut, Tuesday, April 28, 2015. (The Daily Star/Mohammad Azakir)
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The World Bank plans to double its investments in Lebanon by 2020 though an official decision has yet to be taken in this regard, the bank's newly appointed MENA region vice president told The Daily Star Wednesday.Hafez Ghanem said the World Bank plans to invest an annual $300 million in Lebanon in the next four years, bringing the total amount of dispatched funds close to $2.3 billion. Ghanem said the earlier Parliament ratifies the loan, the more likely his team will be able to quickly secure the official approval of the World Bank's board of directors on future investments in Lebanon.The World Bank is also committed to supporting Lebanon in coping with the large influx of Syrian refugees, Ghanem said.
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