Lebanon Businessnews News

EU pledges $177 million
Justice, economic development, and energy are targeted
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The European Union set a financial allocation of $177 million for Lebanon for the period 2014-2016.

“We will continue to stand by Lebanon and its institutions to address present extraordinary challenges," the European Commissioner for Enlargement and European Neighbourhood Policy, Štefan Füle said.

The EU cooperation will focus on the following three priority sectors, selected among the Government's agenda priorities: “Justice and security system reform, which, in the current context, are crucial to foster a stable environment, while strengthening the rule of law,” a statement by the EU said.

The second sector is reinforcing social cohesion, promoting sustainable economic development, and protecting vulnerable groups. The objectives are to encourage private sector development and economic diversification, while enhancing social protection, improving working conditions, and addressing the needs of the most vulnerable groups.

The third EU priority is promoting the sustainable and transparent management of energy and natural resources. The statement said: “This sector is critical for Lebanon’s economy and the Lebanese population’s well-being. The objectives are to secure sustainable energy supply, while preserving the environment and promoting a sustainable rural economy.”

In addition to these three main sectors, the EU will provide general technical assistance and will provide support to civil society.
Reported by Yassmine Alieh
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Date Posted: Oct 16, 2014