Beirut: Finance Minister Yassine Jaber on Friday affirmed that "supporting the private sector and strengthening public-private partnerships are key pillars for reviving economic activity, stimulating investment, and creating job opportunities," stressing "the important role of the International Finance Corporation (IFC) in supporting Lebanon during this phase."
According to National News Agency - Lebanon, Minister Jaber's words came during his meeting with International Finance Corporation (IFC) Regional Director Aftab Ahmad, who has concluded his mission in Lebanon, and the newly appointed Regional Director Thomas Jacobs, in the presence of World Bank Country Director Enrique Blanco Armas, Chief Economist Eleftheriades, Director General of Finance Georges Maarawi, and Economic Adviser Zeina Qassem.
The meeting addressed ways to strengthen the IFC's support for Lebanon's private sector and expand areas of partnership and investment, particularly in vital sectors, with a focus on the electricity sector, where private-sector partnerships could contribute to its development, improve its efficiency, and ensure its sustainability.
The discussion also underscored the importance of reopening Lebanon to its regional surroundings and strengthening its economic integration, particularly by revitalizing trade corridors, expanding trade and services, and leveraging Lebanon's strategic location to reestablish itself as a regional hub for transit, trade, and services.
For his part, Ahmad reaffirmed the IFC's commitment to continuing its support for Lebanon and its private sector, and to working with the government to identify viable investment opportunities and partnerships, thereby strengthening the private sector's role in driving economic recovery and achieving sustainable growth.
The two sides agreed to continue cooperation and develop a practical partnership framework in the coming phase, aligned with the government's priorities of stimulating private investment, developing infrastructure, and promoting economic growth.