Country: Lebanon
Duration: 2021-2022
Themes: Strengthening the Business Enabling Environment
Cross Cutting Themes: Climate, Digital
Anticipated Impact Areas: Quality Jobs, Private Investment, Productivity
The Challenge:
Lebanon is facing multiple crises all at once - an economic and financial crisis, the COVID-19 pandemic, and the aftermath of the Port of Beirut explosion. The impact of the multiple crises has been devastating to the private sector. Despite the accelerated downturn, Lebanese firms were struggling and underperforming prior the pandemic, and multiple cross-cutting business environmental constraints contributed to their underperformance. As firms face these multiple challenges, the regulatory framework governing business entry and operations needs to be updated to cope with the developments of technology and new ways of doing business.
The Mission:
C-JET is funding a grant that is being implemented by the World Bank in Lebanon to provide critical advisory and analytical support to the Government. The grant will prioritize and support reforms that reduce the cost of doing business for the private sector and increase the attractiveness of the Lebanese economy for foreign investments towards resilient and inclusive recovery. This includes developing a business environment roadmap and action plan and providing recommendations to improve investment policy and institutional frameworks that enable foreign direct investments. Through these activities and more, this grant aims to strengthen Lebanon¡¯s investment climate and support resilient and inclusive economic recovery from the multiple crisis.