The European Union announced that it has allocated 205.5 million Euros to Lebanon, in response to the prevailing high regional instability and uncertainty, and in support for the country’s economic recovery and stability.
“More than ever before, sound governance and strong State institutions that are effective, transparent and accountable to the citizens, are needed in Lebanon. With the tools at our disposal, we are committed to supporting Lebanon in strengthening its institutions and modernizing its public administration,” EU Ambassador to Lebanon, Sandra De Waele, said in a communique issued late Thursday.
She underlined that it is a “top priority” for the EU to support Lebanon with financial and technical assistance in order to improve and upgrade its border management to international standards, “a matter that will contribute to the country’s overall security and stability, in the face of regional uncertainty and threats.”
The statement stressed the crucial importance for Lebanese public institutions to be well equipped to address the growing needs of the Lebanese people. “This starts with the implementation of necessary economic and structural reforms, in line with recommendations of the International Monetary Fund,” it said, adding that the EU “will help Lebanon implement fiscal policy and public finance management measures that increase public revenues and improve the economic conditions in the country once the IMF program is in place.”
The EU will also support measures to respond to the protracted electricity crisis in Lebanon, by encouraging renewable energy and energy efficiency investments by SMEs, the statement added.
Moreover, the EU will continue to provide “indispensable support in education, social protection, and water sector, in addition to strengthening the capacities of local authorities to provide services in a sustainable manner to address the growing needs of vulnerable people.”
