Lebanon has an opportunity to secure hundreds of millions in favourable loans which will boost the Lebanese economy and help create jobs.
British Ambassador to Lebanon Hugo Shorter met with the Minister of Social Affairs Rachid Derbas and said after the meeting:
Yesterday, as London Conference co-hosts we collectively announced over $550m this year for Lebanon. This is the contribution of Germany, Kuwait, Norway and the UK. Other major donors will announce theirs in coming weeks.
Of this, the UK’s USD165m (£114m) will go towards vital programmes in education for all, municipal investment, essential infrastructure, job creation and humanitarian relief. Importantly, these projects are not just for refugees: they are for all. But Lebanon has an even greater opportunity to secure hundreds of millions in favourable loans which will boost the Lebanese economy, creating jobs in the short-term and in the longer term positioning Lebanon as the hub for the eventual reconstruction of Syria.
I hope that the Lebanese Government and parliament will show the bold leadership required to access this finance and deliver on the commitments of the Lebanese Government’s Statement of Intent, to the benefit of the Lebanese people. The success of programmes such as the Lebanon Host Communities Support Programme led by the Ministry of Social Affairs show that the more Lebanon can deliver, the more donors can give. We will continue our support for Lebanon in its efforts to face the crisis and deliver for its people.’
Notes to editors:
*The UK’s contribution of USD165m (£114m) will support vital programmes such as MEHE’s Reaching All Children with Education 2 (USD58m), municipal investment, essential infrastructure and job creation (USD49m), and humanitarian relief for the most vulnerable refugees and poor Lebanese (USD58m).