U.S. dollars allow NGOs to do more with less in Lebanon

By May 18, 2021

Lebanon (MNN) — Cryptocurrency is gaining traction as Lebanon’s economic crisis worsens. Shops of all sizes increasingly began accepting bitcoin payments over the last year, Arabian Business reports.

Lebanon’s financial crisis creates an unexpected opportunity for Christian ministries.

“[Non-government organizations] are able to exchange dollar(s) at a high rate. This enables us to do much more than before,” explains Nuna*, Executive Director of Triumphant Mercy Lebanon.

Today, the Lebanese pound is worth less than a United States penny, the lowest U.S. monetary unit. That means every donated dollar goes even farther to help people in need.

“NGOs are funded mainly by international communities, so they’re not funded from inside Lebanon. This means they can bring in some ‘fresh’ dollars; [in other words,] dollars that do not exist in the country, but come from anywhere in the world,” Nuna says.

“The value of the dollar is so high that when I use $1, I can do seven to eight times more than I used to do before.”

The positive exchange comes at a valuable time. Needs in Lebanon are higher than ever. Send help through TM Lebanon.

(Photo courtesy of Triumphant Mercy Lebanon)

“People need more than just words; they need physical assistance. They need to pay the rent; they need to feed their children,” Nuna says.

At a recent aid distribution, “450 people came to receive some kind of humanitarian help.”

Pray for believers as they provide help and hope in the name of Jesus. Ask the Lord to protect desperate people from COVID-19 infections. “There’s so much need, so much despair,” Nuna says, explaining why some Lebanese gather in the streets to protest.

“People are saying ‘We are going on the streets. I don’t care if I die from COVID. I just I don’t want to die from hunger.’”

 

*Name changed for security purposes.

 

 

Header image is a stock photo from Pixabay.com