On the face of it, the donor conference of Western and oil-rich Arab nations in Paris this week merely continues the work of two previous multilateral conferences in 2001 and 2002, aimed at helping Lebanon to rebuild its infrastructure after years of civil war and Israeli occupation and to tackle its massive debt. This time, donors will additionally help offset the $3.5 billion in direct and indirect losses caused by last summer’s war between Israel and Hezbollah, and the further rise of debt to $40.6 billion, a staggering 180% of Lebanon’s GDP.
On the face of it, the donor conference of Western and oil-rich Arab nations in Paris this week merely continues the work of two previous multilateral conferences in 2001 and 2002, aimed at helping Lebanon to rebuild its infrastructure after years of civil war and Israeli occupation and to tackle its massive debt. This time, donors will additionally help offset the $3.5 billion in direct and indirect losses caused by last summer’s war between Israel and Hezbollah, and the further rise of debt to $40.6 billion, a staggering 180% of Lebanon’s GDP.