Helena Lyng Blak
2 weeks ago

EU Announces €1 Billion Package for Lebanon

EU solidifies support with €1 billion aid package for Lebanon amidst ongoing challenges.
BEIRUT, LEBANON - NOVEMBER 5, 2017. — Photo by diego.fiore1981.gmail.com / DepositPhotos
BEIRUT, LEBANON - NOVEMBER 5, 2017. — Photo by diego.fiore1981.gmail.com / DepositPhotos

On May 2, 2024, during a visit to Beirut, the capital of Lebanon, European Commission President Ursula von der Leyen, announced that the European Union will provide Lebanon a “financial assistance package” worth €1 billion between 2024 and 2027. 

Von der Leyen was accompanied on her visit by Cyprus President Nikos Christodoulides. They were in the country to discuss how best to support Lebanon in domestic and regional challenges that the country faces. 

“My visit today is a strong testimony of the EU's continued support to Lebanon and its people,” said von der Leyen. 

“This was also the clear message of European leaders at our last summit, and are committed to provide strong financial support to the country in view of the significant challenges it faces. The €1 billion until 2027 will provide much needed assistance to the people in Lebanon and contribute to its security and stability.”

The financial assistance package will directly bolster Lebanon's social infrastructure, including support for education and healthcare. It will equip and train the Lebanese Armed Forces to secure borders and combat smuggling. Additionally, the package will bolster ongoing efforts to reform Lebanon’s economic, financial, and banking sectors.

The EU has since 2011 supported Lebanon with more than €3 billion.

Reflecting the strong economic ties, EU-Lebanon trade amounted to €6.26 billion in 2022 alone.

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