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Germany signed a financial cooperation agreement with Lebanon to provide it with 50 million euros (about $54 million) in aid.
The agreement was signed on Tuesday by the Lebanese Foreign Minister, Abdallah Bou Habib, and the German Ambassador to Lebanon, Andreas Kindl.
This contribution by Germany through Kreditanstalt für Wiederaufbau (KFW), a state-owned investment and development bank, will finance particular projects in Lebanon, including:
This aid comes at a dire time for Lebanon. The people, as well as institutions and businesses, are living through daily exceptional difficulties to survive.
Those challenges include severe hour-long power outages, the disastrous depreciation of the Lebanese Pound, hyperinflation, shortage of medicines, shortage of food, children leaving their classes to work, and people’s money withheld by the banks; to name a few.