Finance minister discusses $28.5 million World Bank-backed IT modernization project

Lebanon’s Finance Minister Yassine Jaber met with World Bank regional director Jean-Christophe Carret on Wednesday to discuss a $28.5 million loan aimed at upgrading the Ministry of Finance’s outdated information technology systems. 

The meeting, held at the ministry’s headquarters, was attended by World Bank representatives, ministry officials, and financial experts.

Jaber said the project is part of a broader series of discussions with the World Bank to modernize Lebanon’s financial administration. 

“It has been many years since these systems were first established, and they are now outdated. This upgrade is crucial for improving efficiency and service delivery,” he stated.

The plan includes creating a unified data center to centralize financial divisions such as customs, VAT, and property taxes under the General Directorate of Finance. 

A designated space for the center has already been prepared at the ministry’s headquarters in central Beirut.

Jaber emphasized that modernizing the IT infrastructure will boost tax collection efficiency and improve online services for citizens. 

He also indicated that Lebanon is committed to completing the project swiftly, even if additional funding is required beyond the World Bank’s allocation. “This is an important investment for the country,” he said.