Lebanon launches cash cards to support families in need for help
September 10, 2021, 6:00 am

Lebanon launches cash cards to support families in need for help

Lebanon with flags

The Xinhua reported according to the National News Agency, Lebanon launched on Thursday cash cards in support for over 500,000 families who are in need of help amid the current financial and economic crisis.

According to the Xinhua, caretaker Lebanese Social Affairs Minister Ramzi Musharrafieh said during a press conference that the cash card will give each eligible household member 25 U.S. dollars monthly, or its equivalent in Lebanese pounds at the parallel market exchange rate.

The launching of the cash cards aims at curbing the subsidy program which costs 6 billion dollars yearly, contributing to the depletion of foreign reserves in the country.

Musharrafieh said that the government has allocated a budget of 556 million dollars for this plan, while it is working to get funding from a World Bank loan targeting infrastructure and labor, and also from the IMF's special drawing rights known as SDRs.

Lebanon has been suffering from an unprecedented financial crisis, plunging 74 percent of the population into poverty, according to the United Nations Economic and Social Commission for West Asia (ESCWA).

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”