Lebanon has concluded 22 agreements with Saudi Arabia, facilitating a high-profile visit aimed at enhancing economic ties. Deputy Prime Minister Tarek Mitri indicated that Saudi support is crucial for accessing international aid, with recent discussions highlighting Lebanon’s recovery needs and future collaborations, including a potential conference in France for further support.
Lebanon has secured 22 cooperation agreements with Saudi Arabia in advance of a significant high-level visit aimed at enhancing economic relations. Lebanese Deputy Prime Minister Tarek Mitri indicated that the delegation could potentially be led by either President Joseph Aoun, Prime Minister Nawaf Salam, or both. This development follows a meeting where Crown Prince Mohammed bin Salman hosted President Aoun, addressing Lebanon’s crisis and broader regional matters.
The comprehensive agreements pertain to diverse sectors, such as agriculture, intellectual property, and environmental management, and are considered pivotal for attracting international aid to Lebanon’s struggling economy. Deputy Prime Minister Mitri noted, “This is a legitimate approach, and we must earn the trust of Arab nations and the international community,” highlighting the significance of Saudi Arabia’s support in securing further aid.
Mitri confirmed that the 22 agreements are fully prepared for signing, underscoring the ambition of Lebanon to establish stronger ties with Saudi Arabia. The agreements further encompass collaborations with the Ministry of Information, General Directorate of Civil Aviation, and Banque du Liban, as detailed by Rabih El-Amine, Chairman of the Lebanese Executives Council.
In conjunction with these agreements, Lebanon is developing an independent fund dedicated to refugee affairs and post-war reconstruction, aiming to enhance trust with potential donors in light of the recent conflict involving Hezbollah and Israel. A World Bank report estimates Lebanon requires approximately $11 billion for recovery, with infrastructure repairs projected between $3 billion and $5 billion, while private investments could cover an additional $6 billion to $8 billion across key sectors.
Moreover, there are discussions of a potential conference in France to support Lebanon’s recovery, with officials suggesting preparatory meetings or a single event. This conference would focus on humanitarian aid and reconstruction, alongside another event aimed at attracting international investments, although specific dates have yet to be determined.
Lebanon’s recent agreements with Saudi Arabia mark a significant step towards strengthening economic relations and securing international aid. As the country prepares for a notable high-level visit and seeks to establish a credible reconstruction fund, the focus remains on collaborative efforts and gaining the support of both regional and international communities. The pending conference in France may further bolster these recovery efforts, addressing critical humanitarian and investment needs.
Original Source: www.arabnews.com
