EU to provide €42 mln in aid for Lebanon
The European Commission will provide a total of €42 million ($66.36 million) in assistance to Lebanon under the European Neighborhood Policy, a news release said Thursday.
Core sectors for this assistance includes the development of the private sector, local development in Northern Lebanon and the modernization of the justice system. “After the Doha Agreement and the forming of a government Lebanon is facing a wide variety of challenges ranging from political reforms in the run-up to next year’s elections, restoring the trust of the Lebanese people in its government and administration to reviving the economy,” said Benita Ferrero-Waldner, Commissioner for External Relations and European Neighborhood Policy.
“Improvement of rule of law, a stronger private sector and reconstruction in the area of Nahr el-Bared in Northern Lebanon will all contribute to stabilizing Lebanon both politically and economically,” she said. Under the European Neighborhood Policy, the volume of assistance to Lebanon will be €187 million between 2007-2010.
Lebanon was granted €50 million, under the 2007 Annual Action Program, addressing economic recovery, political reforms, access to finance, de-mining ad clearance of unexploded ordnance as well as support to education for the Palestinian refugees in Lebanon. (people.com.cn)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.