Is economic aid contributing to reconstructing Lebanon?
The aid given to Lebanon is not only European: European subsidies are in fact smaller than those from Arab or US sources. For the most part, they are medium-term low interest loans given to the country with a grace period of a few years before payback. These loans should allow Lebanon to reschedule its debt and help it to get over the next two or three difficult years. In the near future, the state will be confronted with difficulties presented by the aftermath of the Israeli attack in July 2006 and the damage caused to the Lebanese public and private sectors. Out of all the money given to the country, only a limited amount – between $1.5 and $2 million – consists of contributions and donations. All of these contributions, loans and donations support and stabilise the Lebanese pound. They maintain an equilibrium in the balance of payments. The 3rd International Paris Conference for Support to Lebanon, on January 25, has had a clearly positive impact on Lebanese residents abroad. The me
