The Ministry of Economy & Trade signed a Memorandum of Understanding with the European Commission (EC) through the Single Support Framework, which sets priorities and financial allocations to Lebanon over the 2014-16 period. The EU would allocate between €130m and €159m over three years to support the development of three priority sectors.
First, 40% of the funds would be ear-marked to promote sustainable economic development and protect vulnerable groups. Second. 20% would go to reinforce social cohesion, as well as to promote sustainable and transparent management of energy and natural resources. Third, 15% of the funds will be allocated to the reforms of the justice and security systems. Further. 25% would finance general technical assistance and support civil society.
Lebanon This Week – Byblos Bank