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27 August 12:00 AM

UN shows strong support for economic stability in Lebanon

The United Nations called for continued international support for Lebanon’s political and economic stability, citing it as a bulwark for stability in the region.

“Supporting Lebanese unity and stability will support stability in the entire region, and it will diminish the threats to peace that we are facing today in the world,” said United Nations Development Programme (UNDP) Administrator Achim Steiner in Paris. “But we can only achieve this by working together.”

Steiner was speaking on behalf of the United Nations Secretary-General at a global conference hosted by President Emmanuel Macron on Lebanon’s economic development called the Conférence Economique pour le Développement et les Réformes Economiquesor CEDREThe conference resulted in pledges of $10.2 billion to support Lebanon.

More than 50 delegations, including financial institutions like the IMF and the World Bank, participated in the conference. Lebanon’s Prime Minister Saad Hariri presented an ambitious Capital Investment Plan and a structural reform program to support Lebanon's economic stability with a focus on economic growth and job creation. 

“The Capital Investment Plan, along with the economic vision of Lebanon, presents an ambitious agenda to put the country firmly back on the path of economic growth and create employment opportunities – for Lebanese citizens and Syrian refugees alike,” Steiner continued.  “The objective of today’s conference is part of one of the most remarkable global commitments of our time: the 2030 Agenda for Sustainable Development. Achieving economic growth is not an end in itself, but it is part of a broader national vision for the sustainable development of Lebanon – its people, institutions and economy. A vision, where no one is left behind.”


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