Saudi Arabia, Kuwait Offer ‘conditional Funding’ For Lebanon’s Reconstruction – The Cradle

January 17, 2025 TheMcgwire

Saudi Arabia, Kuwait Offer ‘conditional Funding’ For Lebanon’s Reconstruction

The Gulf states are said to be seeking direct supervision over the spending of any aid they provide to Lebanon

Saudi Arabia and Kuwait have signaled readiness to financially support the reconstruction of Lebanon after the brutal Israeli war on the country, but under certain conditions – according to a 15 January report by Al-Akhbar newspaper.

“Senior officials in Saudi Arabia and Kuwait expressed, on the sidelines of international financial meetings, the two countries’ readiness to provide aid to Lebanon to bear the burden of the reconstruction process of what was destroyed by the Israeli aggression on Lebanon,” the newspaper cited informed sources as saying.

However, it is conditional that this is done “exclusively through the Lebanese state, and through a legal mechanism away from political calculations in Lebanon.”

Saudi Arabia has been increasingly focusing on the Lebanese economic situation and has sent a report to the International Monetary Fund (IMF) inquiring about the matter, according to the newspaper.

“Saudi officials stipulate that they have direct supervision over the spending of any money allocated to support Lebanon after the formation of the new government … Saudi Crown Prince Mohammed bin Salman asked a number of Saudi businessmen to make contacts with Lebanese economic entities, and called on them to reconsider projects that were previously frozen,” the report said.

🔗SOURCE ➡️ The Cradle

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