Financing Development in Lebanon:
Review of Progress and Challenges
: نانبل يف ةيمنتلا ليومت
تايدحتلاو روطتلا مييقت

ةعيرس ةحمل
3 سيراب يحلاصلاا ةموكحلا جمانرب
تازاجنلاا
تايدحتلا
تايصوتو ةصلاخ
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The achievement of sustained economic growth and poverty reduction remains the key development challenge facing Lebanon
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Access to finance has a key role to play in addressing this challenge
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But Lebanon has, and continues to face, a huge financing gap

ةزيمم ةينب تانيعستلا ةيادب ذنم ىسرأف ،هنم بولطملا قيقحت يف ةمهم تاوطخ ىطخ نانبل نأ " ىلا تفل
زاوتم لكشب فيلس تلا تايوتسم يف رارقتساو يدقن رارقتسا ءاسرا متف ،ةيلخادلا ةيلاملا دراوملا ةئبعت يف
وح ن ىلا يلحملا جتانلا يلامجا ىلا يلحملا ضارقلاا ةبسن تعفترا دقو ،صاخلاو ماعلا نيعاطقلل
ناتبسن امهو ، % 300 وحن ىلا يلحملا جتانلا يلامجا نم ةيفرصملا لوصلأا ةبسن تدادزا امك ، % 240
دجوي تابف ة يفرصملا تامدخلا ضرع تايوتسم تعفترا اضيأ ،ورويلا ةقطنم يف ةلجسملا كلت ناقوفت
لعا ف جمانرب دمتعا كلذك ،ةقطنملا بسن لك نع ولعت ةبسن يهو ،ًادرف 5570 لكل دحاو عرف نانبل يف
." مجحلا ةطسوتملاو ةريغصلا تاسسؤملا ةلافكو ضارقا يف

4. Key Policy Challenges
There are six broad areas in the Monterrey Consensus. A mid term review of the Consensus will take place in the first quarter of 2008.
Some of the challenges associated with these areas are as follows:
4.1: How to improve domestic resource mobilization
 Lebanon has low savings ratios relative to other developing countries. It also has low ratios relative to investment requirements
4.2: How to mobilize international financial resources for development
 FDI inflows continue to be concentrated in a few sectors
 They have very limited employment impact

4.3: How to increase international financial and technical cooperation
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There has also been an effort to increase the quantity as well as effectiveness of aid through reductions in tied aid as well as an increase in the share of grants in total ODA
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Despite these gains, donors need to increase the predictability of aid, improve aid allocation (more to poorer countries), as well as align and harmonize aid flows.
4.4: How to use international trade as an engine for development
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Lebanon ’s share of world trade is very low
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Need for assistance in diversifying into production of dynamic products to improve benefits from trade
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There is also the need to take Development Issues more seriously in the Doha Round trade talks

4.5: Finding an Effective Solution to the External Debt Crises Facing
Lebanon
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The initiatives have reduced the debt service burden facing the country
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However,
4.6: Addressing Systemic Issues
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There is the need to increase for reform of international monetary, financial and trading systems to give more voice to Lebanon in decisions affecting them.

5.
How is the government reform program Responds to these
Challenges
 In an effort to confront these challenges, the Lebanese government embarked on the following initiatives :

 We are also providing valuable technical assistance to Lebanon countries through the following activities and interventions:

6.
Conclusion
 Limited progress has been made in terms of fulfilling the commitments in the Monterrey Consensus
 Therefore, more needs to be done by both Lebanon and its development partners to accelerate progress
 At the national level, there is the need to intensify efforts to mobilize domestic savings, and create a domestic environment conducive to investment and sustained growth
 At the international level, there is the need for our development partners to translate their pledges to Lebanon into action
 The challenges are enormous but with the political will of Lebanon leaders and their development partners, Lebanon will hopefully be able to deal with these challenges