The European Union's flag. (Credit: NNA)
BEIRUT — The European Union has allocated €229 million to “reinforce much needed reforms and economic development” in Lebanon this year, an EU statement published on Wednesday said.
The statement assured that the EU “continues to support Lebanon and its people during challenging socio-economic conditions” and noted that ”several priorities were identified for this new financial package.”
It went on to say that the first priority is to “enhance good governance and support reform,” meaning that the EU will assist Lebanon in implementing “reforms related to public administration focusing on integrity, transparency, and accountability, in line with the opportunities identified by the recent IMF Staff-Level Agreement.”
Lebanon signed a draft agreement with the IMF in April but has been slow to implement a series of reforms required by the lender to finalize the deal, which is seen as key to exiting the country's worst financial crisis since the 1975-90 Civil War.
The IMF has been critical of "very slow" progress. Efforts to enact reforms face obstruction from politicians protecting vested interests and evading accountability.
The EU statement also noted that they “will work with state and civil society actors to empower Lebanese women and contribute to gender equality. "
“The European Union will fund energy efficiency equipment in public sector buildings and contribute to a more efficient provision of public services," as the Lebanese administration is struggling to function properly in the face of collapsing institutions.
The EU will also focus on increasing the competitiveness of Lebanese industries, in particular the agro-food sector, by fostering entrepreneurship, innovation and technology transfers for sustainable energy solutions,” the statement continued.
The statement concluded by assuring that the EU will remain committed to providing assistance to “vulnerable Lebanese and Syrian refugees and help them access much needed essential services in social protection, education, health, and water provision.”
The international community regularly calls for reforms in crisis-stricken Lebanon.
In October, the EU announced that it would provide Lebanon with an additional €75 million in aid. Turkey, Italy, Qatar and the US, among other countries, have been sending aid to assist Lebanon, which is facing one of the world's worst economic crises since the mid-nineteenth century, according to a World Bank report.
