Beirut, March 15 : The World Bank announced that it will allocate about $300 million this year to provide social protection to Lebanon's vulnerable population and invest $200 million in the country's agriculture sector.

Ferid Belhaj, World Bank vice president for Middle East and North Africa, made the remarks during his meeting with Prime Minister Najib Mikati to discuss ways of supporting the country amid its current economic crisis, Xinhua news agency reported.

There is a possibility of "investing more money in the coming years in Lebanon's agriculture, industry, environment, energy, and economy in addition to the health and education sectors, which are among the most important sectors in the current situation", Belhaj said.

"Establishing projects to serve the Lebanese citizens, such as the social coverage project, is very important as they directly impact Lebanese citizens who have reached an unprecedented level of poverty, " he added.

He also said that the World Bank is considering an investment of $100 to $150 million in renewable energy projects in Lebanon.

For nearly three years, Lebanon has been assailed by the most devastating, multi-pronged crisis in its modern history.