European Development Bank launches program to support Lebanese SME

BEIRUT, 6th June (Xinhua) – The European Bank for Reconstruction and Development and the European Union launched a program in the amount of 12.5 million Euros (13.6 million U.S. Dollars) to assist Lebanese Small and Medium-sized Enterprises (SMEs) adopt sustainable practices.

The initiative will focus on resource efficiency and circularity, especially in the food and beverage industry. The EBRD provides capacity building, advice services and grants to Lebanese SMEs in order to reduce carbon emissions and improve resources use.

Heike Harmgart is the managing director of the EBRD for the Southern and Eastern Mediterranean Region.

The EBRD invested more than 880 million Euros in Lebanon, focusing on improving the competitiveness of the private sector, sustainable energy and public services.

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