Lebanon due to receive 150 million euros of aid from France


Beirut : Lebanon will receive 150 million euros from France soon in line with Paris’ pledge to assist the country during the “Paris-three” conference that was hosted by the French capital on January 25 of last year.

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The ministry of finance said in a report released on Saturday that the mentioned sum would be part of 375 million euros, to be allocated by France for aiding the country. French authorities had approved granting this sum to Beirut.

France, during the Paris conference, had pledged to lend Lebanon up to 500 million, including 375 million euros for supporting reforms and 125 million euros for the private sector..

International donors have pledged to offer up to 7.6 billion US dollars to back up reconstruction in Lebanon.

The ministry report shed light on other forms of assistance, noting that it signed, on December 26, with the Arab Monetary Fund a loan accord of USD 32 million for supporting reforms in the financial and monetary sectors.

The Arab fund had also signed with Central Bank of Lebanon an identical agreement for lending Lebanon USD 43 million to finance a program by the CBL for upgrading the risks department of the financial and banking sectors so it could apply international standards.

Lebanon, on December 24, received USD 100 million from the UAE, the third and last installment of a loan of USD 300 million, pledged by Abu Dhabi at the Paris conference.