No EU aid for Lebanon without reform, IMF deal

The New Arab

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No EU aid for Lebanon without reform, IMF deal

Lebanon will need to restructure its banking system before the European Union disburses 500 million euros in aid, a top EU official said on Friday. Last year, the EU agreed to provide Lebanon with one billion euros in funding to reduce the flow of refugees into Europe. Half of the money was paid out last August but the remainder will be subject to "some conditions," EU Commissioner for the Mediterranean Dubravka Suica said during a visit to Leba…

cedarnews.net

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An EU official announced on Friday that the disbursement of half a billion euros (523.6 million dollars) in aid to Lebanon is conditional on restructuring the banking sector and reaching an agreement with the International Monetary Fund. This expected aid comes more than 5 years after the start of a severe economic crisis in the country. Last May, the EU pledged to provide 1 billion euros in aid [...]