NEWS RELEASES
CANADA ANNOUNCES FUNDING TO SUPPORTRECONSTRUCTION OF LEBANON
December 16, 1996 No. 249
CANADA ANNOUNCES FUNDING TO SUPPORT
RECONSTRUCTION OF LEBANON
The Honourable Lloyd Axworthy, Minister of Foreign Affairs, and the Honourable Don
Boudria, Minister for International Co-operation and Minister Responsible for la
Francophonie, today announced the creation of a $2 million fund to support the
program to rebuild Lebanon. Mr. Axworthy, in consultation with the Honourable Art
Eggleton, Minister for International Trade, also announced the availability of up
to $100 million in export financing through the Export Development Corporation.
Mr. Axworthy outlined Canada's contribution at the first meeting of the
International Consultative Group on the Reconstruction of Lebanon, The Friends of
Lebanon, in Washington.
"Canada believes that the private sector must be the motor of a revitalized
Lebanese economy," said Mr. Axworthy. "This new funding will focus on small
initiatives to encourage Canadian and Lebanese private sector partners to work
together in key areas of economic and social reconstruction."
"This support will encourage the development of commercial linkages between Canada
and Lebanon that will provide mutual benefits extending well into the future,"
said Mr.Eggleton
The $2 million fund, financed by the Canadian International Development Agency
(CIDA), is for initiatives jointly developed by the Canadian and Lebanese private
sectors. Interested firms will be invited to submit proposals for projects that
will help strengthen ties already established between the Canadian and Lebanese
private sectors, and promote Lebanon's involvement in the regional peace process.
"Over the last five years, the Government of Lebanon has made great strides in
rebuilding the country's war-torn economy and public services, but it still faces
many challenges," said Mr. Boudria. "This new fund reflects Canada's commitment
to assist the Lebanese to consolidate gain and restore Lebanon to its pre-war
prominence."
CIDA will entrust the management of this fund to a partner organization, which
will be responsible for managing it according to the criteria of impartiality and
transparency.
Funding for these initiatives was provided for in the March 1996 federal budget
and is therefore built into the existing fiscal framework.
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For further information, media representatives may contact:
Catherine Lappe
Director of Communications
Office of the Minister of Foreign Affairs
(613) 995-1851
Nicole Bourget
Director of Communications
Office of the Minister for International Trade
(613) 992-7332
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
Media Relations Office
Canadian International Development Agency
(819) 953-6534
This document is also available on the Department of Foreign Affairs and
International Trade's Internet site: http://www.dfait-maeci.gc.ca
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