Established in December 2020 in the aftermath of the August 4 Port of Beirut explosion disaster,
and following the launch of the Reform, Recovery and Reconstruction Framework (3RF), the Lebanon
financing Facility (LFF) is a 5 year multi-donor trust fund, managed by the World Bank.
To date, the LFF has received contributions and pledges from the governments of Canada, Denmark, France, Germany, Italy and Norway and from the EU. Subject to the commitment of all Lebanese stakeholders to critical reforms, the LFF will build the foundation for medium-term recovery and the sustainable reconstruction of the Port of Beirut and affected neighborhoods.
The LFF prioritizes three focus areas of interventions:
1. Socio-economic and business recovery;
2. Preparing for reform and reconstruction; and
3. Strengthening coordination, monitoring, accountability and oversight of the 3RF.
The Fund will benefit from the World Bank’s high fiduciary standards, through the application of its fiduciary framework for financial management, procurement, and environmental and social safeguards.
It will ensure that programs promote gender equality and community engagement that target women, youth and vulnerable populations. In addition.
LFF will hire a Third Party Monitoring Agent to independently verify and confirm that the criteria, selection process, assessment and use of funds are in compliance with the Project Operations Manual.