EU to provide €42 mln in aid for Lebanon

Initiatives

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)

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