Finance Minister Yassine Jaber held a high-level meeting with World Bank representatives on Friday to review the progress of the Public Financial Management Project (FMP) and its restructuring.
At the heart of the discussions was the project’s role in supporting Lebanon’s economic stability, with a focus on strengthening tax collection efficiency, modernizing financial systems and implementing key reforms. The FMP aims to replace outdated financial infrastructure with an integrated tax management system, boosting revenue collection while ensuring the stability of the current system until the transition is complete.
To enhance transparency and efficiency, the project includes the development of a comprehensive financial management system covering budgeting, expenditure, accounting and treasury operations. It also features an e-learning platform for capacity building and provides technical support to execute reforms, including the Treasury Single Account, operational restructuring and public debt management.
However, the meeting also highlighted major challenges threatening the project’s implementation, notably a shortage of human and technical resources. Participants stressed the urgent need to redistribute staff and recruit new personnel to ensure effective execution.
Despite the pressing need for additional reforms, such as a land registry project and digital ID support, the available funding remains insufficient to expand the project’s scope.
Both sides emphasized the importance of avoiding duplication in the government’s GovTech initiatives, underscoring the need for effective coordination and integration among Lebanon’s digital projects.
For his side, Jaber reaffirmed the government’s commitment to collaborating with the World Bank to guarantee the project’s success. He described the initiative as essential to Lebanon’s financial reform agenda, emphasizing that it is part of the broader set of urgent reforms pledged by the new government to promote economic stability and long-term sustainability.
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