Lebanon will need to reform its banking system to get EU aid
Lebanon’s banking system would need to be restructured before the EU issues 500 million euros of aid, according to a leading EU official, The New Arab via AFP reported on February 21st.
In 2024, the EU said that it would give Lebanon one billion euros of funding to lessen the influx of refugees into Europe. Half of the funding was paid in late August but the rest will be subject to “some conditions,” EU Commissioner for the Mediterranean Dubravka Suica said when visiting Lebanon.
After meeting Lebanese President Joseph Aoun, Suica said: “The main precondition is the restructure of the banking sector… and a good agreement with the International Monetary Fund.”
The New Arab
