EBRD and EU Launch $13.6 Million Program To Support Lebanese Small, Medium-sized Enterprises

The European Bank for Reconstruction and Development (EBRD) and the European Union have launched a €12.5 million ($13.6 million) program to help Lebanese small and medium-sized enterprises (SMEs) adopt sustainable practices. Announced on Wednesday, the initiative aims to enhance resource efficiency and promote circularity in Lebanon’s industrial sector, particularly focusing on food and beverage businesses.

The program will provide Lebanese SMEs with capacity building, advisory services, and grants to reduce carbon emissions and improve resource use. Heike Harmgart, the EBRD’s managing director for the southern and eastern Mediterranean region, highlighted the partnership’s significance in supporting Lebanon’s economic recovery by enhancing the sustainability of its SMEs.

The EBRD has already invested over €880 million in Lebanon, concentrating on boosting private sector competitiveness, sustainable energy, and public services. This new initiative is a part of their ongoing efforts to foster economic growth and environmental sustainability in the region.