Lebanon is hoping to receive Russia's assistance in various economic projects that could help the nation overcome the dire financial crisis, Lebanese lawmaker Gebran Bassil said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 29th April, 2021) Lebanon is hoping to receive Russia's assistance in various economic projects that could help the nation overcome the dire financial crisis, Lebanese lawmaker Gebran Bassil said on Thursday.
"We called on Russia to support us in a number of economic projects, including electricity production, railroads and a number of other projects. If Russia plays a positive role in implementing reforms in Lebanon and supporting our economic projects, it will contribute to Lebanon's progress and help Lebanon get out of the crisis in which it is now," Bassil told reporters after a meeting with Russian Foreign Minister Sergey Lavrov in Moscow.
Lebanon has been plunged into a months-long financial crisis, aggravated by the collapse of the national Currency, difficulties in the banking system, and a consequent increase in prices.
The critical financial situation unfolds alongside a major political crisis, as the country's political forces are still unable to reach a consensus on the composition of a new government. They need to carry out reforms under specified terms needed to receive international financial assistance in a bid to stabilize Lebanon's economy. Along with that, multiple internal issues are exacerbated by the ongoing COVID-19 pandemic, the devastating Beirut port blast and US sanctions.
