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English

Alarming economic indicators in Lebanon whilst government is busy

13-7-2017

Eight months passed since the formation of the government which has yet to produce a readjustment economic plan for the country. In the meantime, latest statistics have shown worrying indicators about the economic situation. According to the Association of Banks in Lebanon (ABL), the overall public debt grew by the end of April 2017, to USD 76.9 billion, compared to USD 74.89 billion at the end of 2016. In other words, the public debt increased by USD 2 billion during the first three months of the present year against a USD 1.3 billion increase in the first 1/3 of 2016. Moreover, the balance of payments continues to register a cumulative deficit despite a decline from the past year. In this respect, Byblos Bank weekly monitor said the balance of payments posted a cumulative deficit at USD 357.6 million in five months, against a cumulative deficit at USD one billion and 67 million during the same period of last year. In parallel, a report published by the World Bank three weeks ago, anticipated a 2.5% increase in the average economic growth in Lebanon during 2017, with an accelerated pace of the overall real GDP growth at 2.6% during 2018 and 2019. (Al Mustaqbal, Al Diyar, Al Akhbar, June 24 and 25, July 11, 2017)

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German relief kitchen to needy Syrian and Lebanese families in Baalbak

13-7-2017

The head of the Lebanese Organization for Studies and Training (LOST) in Baalbak, Rami Lakkis, received from the head of the German NGO ‘Helpers of the Orient’, Christian Springer, a mobile kitchen with a capacity to deliver 500 free meals to needy Syrian and Lebanese families in the area. The project, Lakkis pointed out, is a continuation of previous schemes in this field, that were made possible via supportive efforts of above two associations including distribution of clothes and livestock among a number of poor households, a hydro-electric generator to the village of Talya and a garbage truck for the town of Kfardan. Springer on the other hand, said: “We asked students in Germany to paint the outside wall of the kitchen. The outcome was messages in 11 different languages from children of different nationalities, including Africans, Arabs and Syrians.” Springer explained that the project reflects a partnership among people, notwithstanding the divergent countries, regions or views toward the issue at hand, as he put it. (Al Mustaqbal, July 13, 2017)

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EU support to host and refugee communities in Taanayel

13-7-2017

The head of the European Commission Delegation to Lebanon, Christina Lassen, inaugurated last week a number of water and power services in the Beqaa town of Taanayel. The project comes within the framework of ‘Improving Water and Sanitation Infrastructure, Solid Waste and Energy, and Supporting the Local Agro-Food Sector in the Beqaa for a Better Access to Basic Services for Host and Refugee Communities’ initiative implemented by Arcenciel association. The newly-installed facilities include: the construction of water supply and storage networks for irrigation and drinking water; waste water treatment to be re-used for irrigation purposes; rehabilitation of irrigation networks; installation of 316 solar powered electricity and water pumping panels; production of heating bricks from recycled pruning wastes, and finally, development of post-harvesting infrastructure tools to preserves some 1600 tons of agricultural produce per season. To note, the Euro 2.5 million project, supported by the EU, is part of a broader Euro 18 million program aimed at improving the infrastructure and economy of local communities in the areas of Beqaa that are most affected by Syrian displacement. (L’Orient Le Jour, July 11, 2017)

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Women of Future movement focus on organisational matters

13-7-2017

The Future Movement’s Organizational Affairs Committee organized yesterday in Beirut a specialized course on ‘organizational work concept’ targeting officers and members of their Women’s Department and the Educational Sector. The main axes of the workshop were: the organizational work concept, commitment and affiliation and the role of the Future Movement’s organizational affairs committee in various units and departments. Other points of focus were: internal regulatory affairs and objectives and goals of commitment and affiliation, in addition to an outline of organizational work and ways to monitor and control performance across structural bodies and their functions as well as the roles of members. The workshop closed with a discussion panel among participants. (Al Mustaqbal, July 13, 2017)

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Roadmap to develop SMEs and for greater employment

12-7-2017

The minister of economy and trade, Raed Khury, inaugurated yesterday from BIEL the Lebanese Forum for Small and Medium Enterprises entitled ‘your needs are our challenges’ aimed at achieving an economy of scale and greater employment prospects as well as enhancing Lebanon’s leading role in the region. Khury spoke of new measures that would contribute to bolstering and developing the capacities of SMEs, highlighting the need to plan a clear-cut and political-free economic strategy that identifies the country’s economic role and introduces a series of dynamic undertakings inspiring economic growth and creating jobs. For his part, the president of the Federation of Chambers of Commerce, Mohamad Shucair, said the Forum has helped to develop a roadmap that addresses dilemmas faced by SMEs and proposes ways to activate their performance. A disadvantageous factor that impedes SMEs businesses, Choucair noted, is the lack of a favorable environment, a declining trust on part of customers and a skyrocketing operational cost (in taxes, insurance and cost of services…), in addition to financing, competition and product marketing related challenges. Banque Du Liban governor, Riad Salameh, said SMEs play a crucial role in national economy as the largest generator of jobs. “We extended subsidized loans for some 19 years to sustain our institutions going through serious but circumstantial financial crisis,” Salameh noted. Likewise, the minister of industry, Hussein Haj Hassan, mentioned that the majority of SMEs work in the IT, industry, commerce and agriculture sectors. These enterprises, he stated, are the dynamo and stimulus of domestic economy in terms of their open employment potential, however, he added, they are faced with considerable difficulties in terms of competition and securing marketing outlets. (Al Mustaqbal, Al Diyar, An Nahar, July 12, 2017)

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Free health screening from Egypt to rural women in Lebanon

12-7-2017

The Egyptian minister of health and housing, Ahmad Imadiddine, currently in Beirut, discussed yesterday with head of the Arab Women’s Council, Lina Douglawi Mkarzel, ways to activate and empower women at the regional level. During the meeting, Imadiddine called the ministry of health in Egypt and gave instructions to provide the Council, for a period of 30 days, with a mobile health unit (a car) equipped with essential medical and radiology equipment and technicians. The aim is to conduct free of charge tests on women aged 45 years and above in rural areas in Lebanon which will help in early detection of breast cancer, as well as, diabetes and blood pressure diseases. Also present at the meeting, were the Egyptian Ambassador to Lebanon, Nazih Najari, and the Council’s administrative advisor, Bahij Watfeh. (Al Mustaqbal, July 12, 2017)

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Digital skills training for Syrians & Lebanese in Beqaa

12-7-2017

The first unit of Syrian refugees and vulnerable host communities in the Beqaa completed a training session on digital skills through a partnership between the American University of Beirut (AUB) and the World Food Program (WFP). The two-month ‘teaching digital skills through vocational training’ course offered 70 students six weeks of intensive coaching and two weeks of intensive English. The course will be followed by a six-week advanced project-based learning and virtual internship for returning students. On the program, WFP country director, Dominik Heinrich, said it is a project that benefits students and local economies and extensively contributes to a Zero Hunger world, not only in Lebanon, but across the region. Similarly, the director of AUB’s Agricultural Research and Education Center (AREC), Mustafa Haidar, pointed out that the capacity building program will enable beneficiaries to find jobs online by ensuring they have access to a decent livelihood and economic prospects. (Al Mustaqbal, July 12, 2017)

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OLA graduation in Saida

12-7-2017

In partnership with the Hariri Foundation for Sustainable Human Development and the Lebanese American University (LAU) in Old Saida district, the Outreach Leadership Academy (OLA) hosted a specialized financial training workshop. The 3-day event organized by Eventa with the support of Byblos Bank and Hariri Foundation comes as part of the MoneySmart program that promotes financial knowledge to young people willing to venture into the world of finance and entrepreneurship. Some 80 participants, including both students and graduates from 16 universities in Saida and the South, were introduced to the basic skills aimed at the management and development of their projected businesses. On the closing day of the program, MP Bahiya Hariri stressed in her address to beneficiaries the importance of sustainable training in the empowerment of youth especially at the start of their career life. “The youth represent the future of this country for they motivate us to work harder to create more opportunities that help them establish a better future for them and for the country” she said. For her part, Nina Abi Fadel, founder and director of the events management company, Eventa, pointed out that MoneySmart is designed specifically for young people who are about to enter the professional world in order to equip them with essential capacities needed for controlling their income and stimulate their familiarity with financial matters. The program, Abi Fadel stated, targets young people (aged 20-30 years) about to graduate from colleges or fresh graduates wishing to kick off their own enterprises. (Al Mustaqbal, July 12, 2017)

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The Lebanese Women Angel Fund up and running

11-7-2017

Insure & Match Capital (IM Capital) announced last Friday the launch of the Lebanese Women Angel Fund in the presence of minister of state for women’s affairs, Jean Ogassapian, the deputy head of mission in the US Embassy in Beirut, Danny Hall, and Berytech chairman, Maroun Chammas. The event coincided with the graduation of the Seeders Masterclass for Business Angels (Seeders MBA) 2016-2017 training program. The new Fund, to note, is a partnership between IM Capital, the Lebanese League for Women in Business (LLWB) and Go Beyond Investing. It will be supported by the MENA Investment Initiative (MENA-II) to help women entrepreneurs and women-owned early stage businesses gain access to finance, contribute to creation of jobs, as well as, ensure sustainable social development and economic growth. Chammas during the ceremony said: “With the successive graduation of qualified individual investors supported by the program, the Lebanese financial system is expected to benefit from reducing gaps in funding and knowledge faced by startups.” (Al Mustaqbal, July 11, 2017)

Previous related news: 
New US-funded program supporting Lebanese individual investors
 

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‘A wedding or a funeral’, latest Kafa campaign against forced child marriage

11-7-2017

Kafa, enough violence and exploitation organization launched during a press conference yesterday its new media campaign, ‘a wedding or a funeral’. The event comes as part of Kafa’s persistent struggle to combat forced child marriage and to accentuate its adverse effectson the lives of little girls. On the occasion, Kafa director, Zoya Rouhana, pointed out that the patriarchal system continues to dominate the general conception of the role and social status of women which refuses to recognize their rights. This, Rouhana said, reflects a reluctance on part of the government and officials to reform or change outdated and obsolete legislations to this effect. In her address to the legislative body, Rouhana called for putting an end to religious encroachment on personal status issues and for enacting a minimum age of marriage at 18 years. Rouhana also criticized the amendments introduced by the Parliamentary Administration and Justice Committee on articles related to ‘assault on honor’, which retained provisions which allow the husband to rape his wife and which exempts rapists from punishment in a situation where the culprit lures a girl with a promise to marry her. Kafa president also touched on the economic and social impacts of marriage of minors on society to transcend the line of reasoning which makes the marriage of underage girls a private family matter. In a related vein, Al Akhbar newspaper brought to light a recent report by the World Bank and the International Center for Research on Women (ICRW) entitled, ‘the economic impact of child marriage through fertility, education, employment and health’. According to the report, child marriage will cost developing countries trillions of dollars by the year 2030, noting that continuous educational attainment of girls is an established way to evade their early marriage, and pointing to positive outcomes of ending child marriage, notably, an increase in women’s expected earnings. (Al Akhbar, An Nahar, Al Mustaqbal, July 11, 2017)

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