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Home >> World
UPDATED: 07:45, August 31, 2006
EU to pledge 42 million euros for Lebanon
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The European Commission will donate 42 million euros (54 million U.S. dollars) to Lebanon at Thursday's international donor conference in Stockholm, Sweden, it announced on Wednesday.

The aid package includes technical assistance to the government for the reconstruction process, support for the rule of law and improved internal security, as well as support for the Lebanese private sector to help relaunch the economy, said the commission, the executive body of the European Union (EU).

EU commissioner for external relations and European neighborhood policy, Benita Ferrero-Waldner, will participate in the Stockholm conference.

"The key to Lebanon's successful recovery will be the full empowerment of a sovereign and independent Lebanese government," said Ferrero-Waldner on Wednesday.

"The money we pledge in Stockholm is only one ingredient in a mix that must also include implementation of U.N. Security Council Resolution 1701 and a return to political stability via Lebanon's own national dialogue. Clearly, the physical challenges facing Lebanon can only be addressed in a meaningful way in the context of a durable peace."

She said long-term recovery of Lebanon also required political and economic reforms.

The new pledge brings the total made available by the European Commission in the immediate aftermath of the recent conflict in Lebanon to more than 100 million euros (128 million dollars).

Of the 42 million euros pledged, 10 million (13 million dollars) will be spent on post-conflict reconstruction. Eighteen million (23.4 million dollars) will be used to reinforce the competitiveness of the private sector, said the commission.

Four million euros (5.2 million dollars) is being allocated to ensure respect for the rule of law and improvement of internal security conditions. And 10 million euros (13 million U.S. dollars) is being made ready to meet other needs identified by the Lebanese government.

Source: Xinhua


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