Lebanon Businessnews News
 

$28 million EU grant to support development
More access to basic services, jobs, income
Share     Share on Facebook     Share on LinkedIn    
WatsApp
The European Union (EU) will offer $28 million to Lebanon in the framework of the Support for Partnership, Reforms and Inclusive Growth (SPRING) programme for 2013. This financial contribution is part of an overall allocation of $200 million to countries in the EU’s Southern Neighborhood.

The funds will provide support to the most vulnerable areas and populations to improve their access to basic services. It will contribute to economic recovery through job creation and income generating activities. EU Ambassador Angelina Eichhorst said: “These funds take into account the efforts the country deployed to preserve stability and national unity, and to continue to uphold its international obligations”.

SPRING funds support partner countries on the path towards democratic transition, and address their needs in terms of economic recovery and reducing inequality.

The SPRING 2013 fund will build on the previous support of $527 million allocated in 2011-2012 in response to events of the Arab Spring.
Reported by Joelle Nassar
Date Posted: Nov 25, 2013
Share     Share on Facebook     Share on LinkedIn    
WatsApp