Financial and Banking News


EEC Helps Reconstruction of Lebanese Schools 

The European Economic Community (EEC) has agreed to provide ECU16mn ($11mn) in the form of grants and soft loans to help the Lebanese authorities rebuild around 400 schools damaged in the civil war, according to a statement issued on 13 March. The funds will provide around half the finance for the Lebanese government's $24mn project to rehabilitate more than 1000 schools.