EU allocates €205.5 mn in support for Lebanon

EU allocates €205.5 mn in support for Lebanon

The European Union has decided to allocate 205.5 million Euros to address several priority areas to support the country’s stability and recovery.

"In these times of uncertainty and instability in the region, the European Union reaffirms its support to the people of Lebanon and has decided to allocate 205.5 million Euros to address several priority areas to support the country’s stability and recovery," the Delegation of the European Union to Lebanon said Friday in a statement.

The European Union said it will continue, as a first priority, supporting Lebanon with enhancing border management, by offering financial and technical assistance to align it with international standards. "This will contribute to Lebanon’s overall security and stability, in the face of regional uncertainty and threats," the statement said.

"In this context, it is crucial for Lebanese public institutions to be well equipped to address the growing needs of the people of Lebanon. This starts with the implementation of necessary economic and structural reforms, in line with recommendations of the International Monetary Fund. To address the lack of resources needed to undertake such reforms, the European Union will help Lebanon implement fiscal policy and public finance management measures that increase public revenues and improve the economic conditions