BEIRUT, May 7 (Xinhua) -- Bader Mohammad Al-Saad, president of the Arab Fund for Economic and Social Development, announced on Wednesday that the fund is ready to resume offering concessional loans to Lebanon after years of stalled development activity in the country.
Following a meeting with Lebanese President Joseph Aoun, Al-Saad said, "The Arab fund wants to be the first development institution to restart its operations in Lebanon. We are prepared to provide soft loans to help revive development efforts, and we are now waiting for the Lebanese government to define its project priorities."
According to Lebanon's state-run National News Agency, the fund's focus will be on key sectors such as education and health. Al-Saad also expressed a commitment to helping Lebanon build institutional capacity through technical training in ministries and security agencies.
"We discussed many projects -- electricity, water, education, health, and roads," he was quoted as saying.
Aoun, for his part, welcomed the renewed interest of the Arab fund in Lebanon, telling Al-Saad that the "difficult circumstances that hindered development and reconstruction are now behind us," and expressing optimism about Lebanon's future.
"We are determined to rebuild the state on new foundations, including economic and financial reforms, transparency, and good governance," he said, stressing the importance of continued Arab support for Lebanon's recovery. ■
