CEDRE conference for supporting Lebanon, 6 April 2018

Summary:

Around 50 countries participated alongside organizations and private investors at the CEDRE conference – also referred to as Paris IV – with officials from the World Bank and the International Monetary Fund (IMF) to pledge support for Lebanon.

Further information:

Lebanon garnered $11 billion in pledges, including $10.2 billion in loans and $860 million in grants, aimed at an investment program to boost its economy. The World Bank agreed to a $4 billion loan over the following five years for 'inclusive growth and job creation in Lebanon'.

The European Union also announced a package of up to €150 million to support the revitalisation of the Lebanese economy as part of its commitment to the economic development of Lebanon. This was to be made available in the framework of the European External Investment Plan (EIP).

News

Reuters, 06.04.18: Lebanon wins pledges exceeding $11 billion in Paris https://www.reuters.com/article/idUSKCN1HD0UU

France24, 07.04.18: Billions pledged at Paris conference in attempt to boost ailing Lebanese economy http://www.france24.com/en/20180406-lebanon-france-11-billion-pledged-paris-conference-attempt-boost-economy

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Official

EIB: Press Release, 06.04.18: CEDRE Conference: EIB pledges EUR 800 million to support public investments in Lebanon http://www.eib.org/infocentre/press/releases/all/2018/2018-083-cedre-conference-eib-pledges-eur-800-million-to-support-public-investments-in-lebanon.htm

European Commission: Press Release, 06.04.18: The EU aims to generate €1.5 billion investments in Lebanon over 3 years http://europa.eu/rapid/press-release_IP-18-2864_en.htm

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