Lebanon Businessnews News

French aid signed
Grant to help mitigate Syrian impact
on local communities
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France has granted Lebanon $10 million to mitigate the impact of the Syrian refugees on local communities that have been most affected.

The grant was placed in a multi-donor fund run by the World Bank. It was signed by the Minister of Finance Ali Hassan Khalil, the Chairman of the Council for Development and Reconstruction (CDR) Nabil Jisr, and the Director of the World Bank’s Middle East Region Ferid Belhaj. France’s Ambassador to Lebanon, Patrice Paoli also signed the agreement to transfer the amount to the fund.

The funds will be used to provide basic infrastructure services and to support social cohesion. Issues such as water, wastewater, roads, and social activities will be addressed by 11 unions of municipalities across the country.

Norway and Finland have also chipped in with $30 million worth of grants.

The fund was established in 2013 on the sidelines of a UN General Assembly meeting. A study prepared by the World Bank and UN organizations estimated that the direct and indirect repercussions of the Syrian crisis on local economy would reach $7.5 billion over the next few days.

Reported by Yassmine Alieh
Date Posted: Sep 15, 2014
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