BEIRUT, LEBANON — Struggling to cope with food security amid an economic crisis and tight global wheat supplies, lawmakers in Lebanon voted July 26 to use a $150 million World Bank loan to pay for wheat imports into the cash-strapped country and help stabilize bread prices, The Associated Press reported.
Russia’s invasion of Ukraine on Feb. 24 and global inflation have worsened the situation faced by Lebanon, and nearly half of the tiny Mediterranean nation's 6 million people have been left without adequate food. According to the United Nations World Food Programme, Lebanon has one of the highest food inflation rates worldwide.
Bakery owners have warned that wheat supply is limited and operational costs have skyrocketed, severely restricting the availability of bread.
The $150 million is expected to secure wheat for about six months, perhaps longer if prices continue to decline, said Economy Minister Amin Salam, who is part of the country’s caretaker government.